"Pinduoduo supported small and medium-sized companies by offering the lower effective advertising rates, directed traffic that we could have otherwise monetized to dedicated channels for medical supplies," Liu said.Excluding items, the company lost 2.73 yuan per American depository share compared with estimates of loss of 1.97 yuan per ADS.Pinduoduo's shares were up 4% before the start of trading. By turning online shopping into an entertainment, it hopes to keep customers hooked -- a model he compares to a combination of Costco and Disneyland. Pinduoduo (拼多多) translates to “together, more savings, more fun” alluding to the platform’s unique selling point—group shopping for discounted prices. Investors erased $16 billion in market value from the Chinese company as … Reblog. Colin Huang, founder and CEO of Pinduoduo, speaks in Shanghai as the company debuts on New York's Nasdaq on July 26, 2018.
(Reuters) - China's Pinduoduo Inc beat first-quarter revenue estimates on Friday as more people shopped on its e-commerce platform during coronavirus lockdowns that have shut most brick-and-mortar outlets.Stay-at-home orders have boosted demand for online shopping as people stock up on groceries and food items from home and sellers too turn to online platforms to run down inventories.The growth rate of active buyers in the 12 months ended March remained robust, reaching 628 million, representing an increase of 42% year on year. ... Pinduoduo Vice President David Liu said the sequential fall …
(Reuters) - China's Pinduoduo Inc beat first-quarter revenue estimates on Friday, as more people shopped at its e-commerce platform during coronavirus lockdowns that shut down most brick-and-mortar shops.Stay-at-home orders have boosted demand for online shopping as people stock up on groceries and food items from the comfort of their homes and sellers too turn to online platforms to run down their inventories with brick and mortar shops largely shut.Net loss widened to 4.12 billion yuan in the quarter ended March 31, from 1.88 billion yuan, a year earlier.The e-commerce company known for its deep discounts, said revenue rose 44% to 6.54 billion yuan ($916.63 million), beating estimates of 4.97 billion yuan, according to IBES data by Refinitiv.Excluding items, the company lost 2.73 yuan per American depository share compared with estimates of loss of 1.97 yuan per ADS. It’s not hard to see why the world’s largest e-commerce market is being transformed by the fast-growing app known as Pinduoduo. It is also one of the world's largest internet companies. But the two giants are now looking to fend off the challenge from PDD. The integration of social is key during the Pinduoduo online shopping process and the bigger the shopping ‘team’, the lower the price of purchase. It is the second-largest online marketplace in China by number of users and number of orders. Share (Reuters) - China's Pinduoduo Inc … Pinduoduo is the second most used online shopping app behind Taobao with over 385.5 million monthly active users. Pinduoduo has been China’s third most popular ecommerce service since July 2017. When looking at a product, users are presented with two price options, a standard price to buy directly and a discounted price. Read on to find out how the mix of social commerce, discounted prices and gamified experience has made Pinduoduo a hit among lower-tier city and rural consumers.Pinduoduo offers products such as clothing, fresh produce, household items and electronics. Pinduoduo beats revenue estimates as demand for online shopping soars.