Pinduoduo is China’s fastest growing e-commerce app and the second most popular online shopping app by market penetration after Taobao. The platform serves about 300 million users and emphasizes low-cost consumer goods through social and group-buying mechanisms. The company is pushing deeper into agricultural supply by planning to invest RMB10 billion (around US$1.6 billion) in marketing for fruits and vegetables sold directly from farmers to consumers. Pinduoduo recently attracted a $3 billion investment at a reported $15 billion valuation from a consortium led by Tencent. Its move into direct farm-to-consumer sales positions it against players such as Meicai and initiatives from Alibaba and JD. The strategy appears focused on scaling fresh produce offerings to its large user base and leveraging marketing spend to expand market share.

Total raised

$3.0B

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2018