PDD Holdings Inc-ADR PDD

Founded in 2015, Pinduoduo, Inc. is a mobile e-commerce platform provider that offers the largest online grocery service in the People’s Republic of China. Pinduoduo also acts as a virtual department store, selling a wide range of goods including clothing, shoes, cosmetics, sports equipment, electronic appliances, and furniture. The company has its headquarters in Shanghai and services customers within China. As of 2021, it reports over 800 million active users per month and employs 7,900 people.

Pinduoduo was previously known as Walnut Street Group Holding. The Pinduoduo platform offers customers the option of shopping individually or choosing to shop as part of a group buying deal, with associated discounts. Purchases are made via apps such as Tencent’s WeChat, merging social and shopping activities. The Daily Check-In feature encourages people to use the app daily to view the latest deals. Payment options include Apple Pay, Alipay, QQ wallet, and Weixin Pay.

Pinduoduo, Inc. is publicly listed on the NASDAQ, where it trades under the ticker PDD. In 2021, the company pledged to donate $1.5bn to charity to support the development of agriculture in China.

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