in

Pinduoduo invests $200 million in retail giant GOME · TechNode


Pinduoduo announced Sunday a strategic partnership with GOME Retail. The e-commerce upstart is investing $200 million worth of convertible bonds in the household appliance and electronics retailer.

“This strategic partnership is a win-win-win. Consumers win because they get a wider range of top domestic and international brands at competitive prices, GOME wins because they can broaden their access to our 585.2 million users, and PDD wins because we enhance our foothold in household appliances and electronics.”

David Liu, Vice President of Strategy at Pinduoduo, says in a statement

Why it matters: Chinese retailers, both online and offline, are working together to increase operational efficiency and improve user experience by leveraging each others’ user base, supply chains, and technological capabilities.

Listen: An interview with Pinduoduo’s David Liu

Details: Pinduoduo is planning to integrate GOME’s product range, logistics and after-sales customer service to its platform.

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.
More by Emma Lee



Source link

What do you think?

Written by wEcZAfTxH1

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Comments

0 comments

After RentPay, Cred announces launch of instant credit line Cred Stash

How deep linking can enhance customer relationships during a crisis