Pinduoduo seeks to fundraise so as to support further expansions
Posted On November 23, 2020
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Pinduoduo’s quarterly profit as of September has infused confidence to market investors. The leading group-buying e-commerce platform in China recently announced the upcoming plan to raise up to $6.1 billion through a convertible notes offering and equity. The fund raised will be used to serve its “New Brand” initiative, bridging manufacturers to customers directly, as well as the produce and grocery pick-up service, which emerged from the period of pandemic lockdown.