Menu
KrASIA
News

Taobao’s formidable rival Pinduoduo wants to sell more fruits to 300 million consumers

Written by Zhao Xiaochun Published on 

Share
Meicai, the e-vendor founded in 2014, has been helping farmers sell products to restaurants.

Pinduoduo, China’s fastest growing e-commerce app, looks to sell more fruits and vegetables to its 300 million users with a plan to invest RMB10 billion (around US$ 1.6 billion) in the marketing of agricultural products which will be sold directly from farmers to consumers. At a valuation of $15 billion, Pinduoduo just raised $3 billion investment from a consortium led by Tencent. It is the second most popular online shopping app by market penetration rate, ranking only after Alibaba’s Taobao in March according to a report by data service Jiguang.

In fact, Pinduoduo is not the first company that seeks to tap into the market of agricultural products, as Meicai, the e-vendor founded in 2014, has been helping farmers sell products to restaurants. Alibaba and Tencent-backed JD have respectively launched plans to ramp up their presence in the market of agricultural products as well.

Source: Lieyunwang

Share

You might like these

  • News

    Pinduoduo pioneers neighborhood group-buying service in Shanghai

    By 

    Song Jingli

    14 Jan 2021    09:08 AM

KrASIA InsightsKrASIA Insights

  • What should have been a smooth-sailing ride for WhiteHat Jr after getting acquired by edtech giant Byju’s, it turned out to be a rocky one.

    Insights

    Coding, campaign, and controversies: WhiteHat Jr’s journey from highflyer to the eye of storm

    By Moulishree Srivastava

    14 Jan 202109:33 AM

Most PopularMost Popular

See All