Portfolio News

Alibaba’s Worst Nightmare: Pinduoduo Becoming the No.1 E-commerce App in China

Have you ever used Pinduoduo?

There is a wide variety of e-commerce start-ups in China, but why is Pinduoduo suddenly so popular?

It is because it has a large user base? Public data show that Pinduoduo has already attracted over 300 million users even though it is less than 3 years old, and its monthly gross merchandise volume (GMV) has even exceeded that of JD.com.