- The price of competing with e-commerce giants Alibaba and JD.com is immense.
- The company announced plans to sell 37 million shares in a move that will raise over $1 billion, going potentially as high as $1.25 billion if underwriters exercise their full share purchase option.
- PDD went public in July when it raised $1.6 billion through a Nasdaq listing.
- Founded in September 2015 by ex-Googler Colin Huang, it adds a social twist to e-commerce by offering discounts for shoppers who gang up with friends or family to make group orders.
Jon Russell / TechCrunch - 1 year ago