Pinduoduo

The company’s growth has been costly, but more aggressive expansions are in the works.

PDD’s share price jumped by close to 15% following its positive financial results.

On the surface, this region seems predestined for an app similar to the latest Chinese e-commerce disruptor. But once you look deeper, challenges outweigh the potential — for now.

All you need to know about the tech world today.

Pinduoduo next investment amidst fluctuating share price.

Nasdaq-listed Pinduoduo (PDD) submits its first financial earnings report after its recent listing. The e-commerce firm saw its revenue jumped by 2489% to around RMB 2.7 billion ($395 million) for Q2

Overall, Pinduoduo users bargain-hunters, more likely to buy an expensive product that is heavily discounted than cheaper yet undiscounted products.

Pinduoduo (PDD), a recently-listed Chinese e-tailer, announced (link in Chinese) on Wednesday evening that it will close 1,128 of its stores and remove up to 4.3 million of the items on its platform.