Pinduoduo posts strong revenue but bigger loss in Q1 · TechNode

Chinese e-commerce company Pinduoduo posted mixed results for the first quarter of this year on Friday.

Why it matters: The fallout from the Covid-19 outbreak weighs on the Q1 performances of Chinese e-commerce platforms. Similarly, JD released slowed-down Q1 revenue in mid-May.

  • Pinduoduo, a strong competitor to JD’s runner-up position in China’s e-commerce market, surpasses its e-commerce rival after price surge on May 12. It’s next only to Alibaba, which remains a far leader.
  • Social commerce is attracting attention from global players such as Facebook.

“Despite the unprecedented challenges in the first quarter, Pinduoduo has grown and now serves more than 600 million active buyers.”

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Written by Aakash Malu


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