Pdd holdings

It provides an online marketplace for agricultural products. The company also provides Pinduoduo, a mobile platform, which offers a range of priced merchandise, pdd holdings.

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Pdd holdings

Pinduoduo Inc. Pinduoduo generated RMB 2. Pinduoduo was founded in by Chinese businessman and software engineer Colin Huang. On 7 June , Legal Evening News reported that Pinduoduo investigated and shut down stores and removed listings that violated its platform policy against pornography and violence, following an earlier report by the newspaper. On 20 January , Pinduoduo reported to the police theft by hackers that exploited a loophole in his system and stole tens of millions of Yuan worth of vouchers. During the initial COVID lockdown in China in , Pinduoduo started a program to assist rural Chinese farmers with selling their produce to customers online instead of relying on traditional in-person marketplaces. On 5 July , a Shanghai court dismissed a local resident's lawsuit accusing Pinduoduo of cheating in a promotional event. In September , Pinduoduo's sister's company, Temu , was launched in the U. In , Pinduoduo came under scrutiny following a spate of negative press calling the company out for inferior and imitation of products. In , Google removed Pinduoduo's app from the Play Store due to security concerns after it was found to contain malware.

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PDD Holdings , the parent firm of e-commerce sites Temu and Pinduoduo, moved its headquarters from China to Ireland, underscoring the Chinese tech giant's international push. The U. It had previously listed Shanghai as its main office. Semafor first spotted the change. The company rebranded this year to PDD Holdings, creating a parent company for Pinduoduo and Temu, its international e-commerce effort. The move to Ireland perhaps signals PDD's attempt to boost its international presence. Temu quietly launched last year. It is trying to replicate the success that Chinese fast fashion brand Shein has found and potentially also challenge the likes of Amazon with its wide array of cheap products. PDD has made a big marketing push with Temu in the U. Temu's app has been installed more than 50 million times since its launch in September , according to Apptopia.

Pdd holdings

Institutions' substantial holdings in PDD Holdings implies that they have significant influence over the company's share price. Put another way, the group faces the maximum upside potential or downside risk. Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. See our latest analysis for PDD Holdings. Many institutions measure their performance against an index that approximates the local market.

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Financial Times Close. Archived from the original on In , Pinduoduo came under scrutiny following a spate of negative press calling the company out for inferior and imitation of products. United States Trade Representative. Director; Co-Chief Executive Officer. Social media users are furious". Pinduoduo was founded in by Chinese businessman and software engineer Colin Huang. ISSN Show more Personal Finance link Personal Finance. On 7 June , Legal Evening News reported that Pinduoduo investigated and shut down stores and removed listings that violated its platform policy against pornography and violence, following an earlier report by the newspaper. All rights reserved. Shanghai , China. History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events. Archived from the original on 6 July Hidden categories: CS1 Simplified Chinese-language sources zh-hans Articles with short description Short description is different from Wikidata Articles containing Chinese-language text Articles containing potentially dated statements from All articles containing potentially dated statements.