Pinduoduo (PDD) has surpassed revenue estimates, with its online discounter app, Temu, gaining traction and taking market share from rivals like Shein and Amazon. The company's Q3 revenue surged by 93.9% to 68.84 billion yuan, far exceeding market expectations. This performance has propelled PDD's market value to $185 billion, close to overtaking Alibaba as China's most valuable e-commerce firm. Jack Ma, the founder of Alibaba, has urged staff to learn from PDD's success, signaling a shift in the dynamics of the Chinese tech industry.
PDD rattles Alibaba and ByteDance slashes games https://t.co/5E9hAxODqS
PDD rattles Alibaba and ByteDance slashes games https://t.co/LTWOoXFBrf
Pinduoduo close to overtaking Alibaba as China’s most valuable ecommerce firm https://t.co/GUcW2qrOx7
Alibaba is set to lose its position as China’s most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma’s iconic firm dominated for more than a decade. https://t.co/hyLMiik1Ca
Alibaba is set to lose its position as China’s most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma’s iconic firm dominated for more than a decade. https://t.co/gFJ0zotZ8t
Alibaba is set to lose its position as China’s most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma’s iconic firm dominated for more than a decade. https://t.co/I7qACqcgzR
Alibaba is set to lose its position as China’s most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma’s iconic firm dominated for more than a decade. https://t.co/vKzs4VclXW
PDD has surpassed Alibaba in market cap in landmark moment for China Tech https://t.co/DXkNcA2Hy0
Alibaba is close to losing its crown as China’s most valuable e-commerce company. PDD Holdings, parent of online retailer Temu, is now worth $185 billion after reporting bumper earnings. Its shares are +70% this year. @hwclarence https://t.co/DxfQ0gnB2m https://t.co/DxfQ0gnB2m
.@PinduoduoInc's revenue reached 68.84 billion yuan in Q3, 2023, a 93.9% increase from the same period last year, far exceeding market expectations. #ecommerce #TEMU https://t.co/BYgoh6kVHF
.@PinduoduoInc's revenue reached 68.84 billion yuan in Q3, 2023, a 93.9% increase from the same period last year, and a net increase of nearly 16.6 billion yuan from 52.281 billion yuan in the second quarter, far exceeding market expectations. #temu #ecommerce…
PDD Holdings surpasses Q3 revenue projections, shares jump 14% https://t.co/nzymox1faV
Alibaba founder Jack Ma urges staff to learn from rival Pinduoduo https://t.co/H3bQj3aMaz
Alibaba founder Jack Ma urges staff to learn from rival Pinduoduo https://t.co/j7zVtZENrm
📈 Today, PDD's financial report showcased a remarkable surge in revenue, propelling its stock price and bringing its market value closer to Alibaba Group's. Jack Ma responded within the internal network stating that the era of AI-driven e-commerce has just begun. #Ecommerce #PDD https://t.co/fIDljISoIh
Pinduoduo transaction revenue surges 315% as Chinese consumers hunt for bargains https://t.co/EXB6TLn4FS
Pinduoduo transaction revenue surges 315% as Chinese consumers hunt for bargains https://t.co/K6lSMRTIHE
A top-ranked China stock fund that made a wager earlier this year on PDD says the big gain after the Chinese e-commerce platform’s stellar earnings shows how much its stock was undervalued https://t.co/asZ6An6wgT
A top-ranked China stock fund that made a wager earlier this year on PDD says the big gain after the Chinese e-commerce platform’s stellar earnings shows how much its stock was undervalued https://t.co/SF10T3swC0
China’s 5Y Capital is on track to surpass its target of raising $700 million for a closely watched venture fund, in a sign that investors are regaining confidence in the world’s biggest internet arena https://t.co/d3fGQK9RTR
China’s 5Y Capital is on track to surpass its target of raising $700 million for a closely watched venture fund, in a sign that investors are regaining confidence in the world’s biggest internet arena https://t.co/8f1SnqieZ7
Chinese-owned e-commerce platform PDD Holdings saw its shares rally after reporting a 47% surge in profits for the third quarter as it continues to take business away from its rivals and disrupt the global e-commerce market. https://t.co/NsVpPCa9kp
PDD's revenue beats estimates as the company behind the Temu app ramped up discounts to grab consumers from rivals such as Shein and Amazon https://t.co/yWuTGu4AoN
$PDD surging on another blowout quarter following all the bull flow in the name https://t.co/qEX6DnUBYh
PDD's revenue beats estimates as the company behind the Temu app ramped up discounts to grab consumers from rivals such as Shein and Amazon https://t.co/rIyZxTUYjf
China's PDD beats estimates as online discounter Temu booms https://t.co/FPHShCRzQC
China’s tech scene is more cautious than before, but deals are still flowing — they’re just under the radar https://t.co/NwjH5PbgUr
China’s tech scene is more cautious than before, but deals are still flowing — they’re just under the radar https://t.co/cX3zayBXoc
China's PDD beats estimates as online discounter Temu booms https://t.co/JRPt06dHFo https://t.co/4gypSSG6kd
PDD's revenue beats estimates as the company behind the Temu app ramped up discounts to grab consumers from rivals such as Shein and Amazon https://t.co/Rf3DdbXeHq
PDD's revenue beats estimates as the company behind the Temu app ramped up discounts to grab consumers from rivals such as Shein and Amazon https://t.co/N7gVdwYhTN