Pinduoduo — China’s Social E-Commerce Giant

If you haven’t heard or read the “new retail” sector, an mixture of offline and online commerce (aka O2O,) in China is on fire 🔥 right. There are several new companies popping up in this space and Pinduoduo (NASDAQ: PDD) is one that you may not have discovered yet.

Pinduoduo has taken a different approach to commerce, allowing consumers to group together to get better discounts from merchants selling goods as varied as clothes, kitchenware and gadgets. This approach seems to be working as they have reported 300M+ active users and over 1M merchants on board.

For more, check out Fortune’s short video on the company to learn more.

Pinduoduo recently raised $1.63 bn through an IPO listing on the NASDAQ. The company’s market cap today as of time of writing is $23.4bn.