E-commerce

Pinduoduo is currently mired in heavy financial losses.

This follows MatchMove’s recent announcement to bid for a digital full bank license in .

This move comes after the firm’s net income in the fourth quarter of last year decreased by 42.9% year-on-year.

Forrester projects the e-retailers to grow by 5% this year in the best-case scenario, as compared to about 26% growth they enjoyed last year.

Seven museums each had around an hour to give viewers an online tour experience

Pinduoduo employees have reported a ban from Alibaba to use Taobao’s Juhuasuan, while Alibaba says that it will not allow violation of the platform’s terms.

The China e-commerce giant is said to have devoted at least USD 800 million in sponsorship for the Olympic Games.

The transaction is expected to close within the first half of 2020.