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Chinese E-Commerce Newbie Pinduoduo: What Makes it Tick?
Pinduoduo Inc (NASDAQ: PDD) is the latest Chinese e-commerce sensation in the spotlight due to superlative growth in its three years of existence.
Despite the highly consolidated nature of the Chinese e-commerce market, the startup has exhibited enough spine to not only thrive, but grow at a scorching pace.
Pinduoduo is a company that has pioneered an e-commerce concept that allows buyers to make purchases directly on its platform or through popular social networks such as Weixin and QQ, according to TechNode.
Users are encouraged to share product information on social networks and invite friends, family and social contacts to shop as a team — and receive more attractive pricing.
What makes the platform a hit with buyers are the heavy discounts the platform offers — as high as 90 percent, according to TechNode.
Pinduoduo differentiates itself from Alibaba Group Holding Ltd (NYSE: BABA)-owned Taobao in that the former’s…
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