Pinduoduo seeks to fundraise so as to support further expansions

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.