Chinese e-commerce challenger Pinduoduo is raising over $1 billion moreJon Russell / TechCrunch - 8 months ago
  • 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.