Pinduoduo

The old cash-burning gamble does not always pay off.

This means the company can borrow cash at zero cost and its shares are highly favored by investors.

Fourteen months ago, when the company went public in the US, it raised USD 1.6 billion.

Alibaba and JD.com are penetrating down into lower-tier cities while Pinduoduo does the opposite.

The once-promising neighborhood group-buying platform fails to attract new capital to stay afloat.

The company announced higher revenues and smaller losses at the end of Q2.

Part of the social commerce site’s client-to-manufacturing plan.

Pinduoduo has reported more than 1,700 suspicious shops to relevant authorities in the first five months of 2019.