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ByteDance's Douyin integrates shopping feature to increase revenues
Users can monetize their influence by getting part of the sales commission fees.
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Pinduoduo reached 536.3 million active buyers, up 39% year-on-year.
Alibaba now controls a 50% stake of the company.
There are over 50,000 individuals working in the electronic cigarette industry and 2 million in other related industries.
Part of the company's efforts to reframe Pinduoduo as a marketplace for branded merchandise.
Another battlefield for these two Chinese e-commerce giants.
It booked RMB 134.8 billion (USD 118.9 billion) in net revenue in the third quarter of this year, up 28.7% year-on-year.
It has started a global offering of 500 million ordinary shares to raise about USD 13.8 billion.
Tencent wants to bring more financial services to its video users and expand its fintech presence in China.