Pinduoduo seeks blockbuster US IPO

E-commerce
Written By Staff Writer

Chinese e-commerce venture, Pinduoduo, aka PDD, is looking to raise least $1 billion in a US initial public offering, valuing it at $30 billion.

PDD, which lets users participate in group buying deals, mostly through Tencent’s WeChat service, has become China's third-largest e-commerce company in terms of sales, behind Alibaba and JD.com.

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