CHINA’S PINDUODUO E-COMMERCE FIRM REPORTS A 146% SURGE IN QUARTERLY REVENUE

Highlights –

• China’s Pinduoduo e-commerce firm reports a 146% surge in quarterly revenue.
• The company reported 788.4 million annual active buyers until the end of 2020.
• The company’s shares fell by 9% in pretrade activity ...

FORMER GOOGLE EMPLOYEE BECOMES CHINA’S SECOND-RICHEST PERSON

Highlights:

• Colin Huang, an ex-google employee has ranked the second-richest person in China.
• He ranked second-richest after a surge in the e-commerce business Pinduoduo due to the coronavirus pandemic.
• Colin Huang was valued at $45.4 billi...

Pinduoduo Announces Fourth Quarter Financial Results

Pinduoduo, a Chinese e-commerce giant, has finally announced its financial results of the fourth quarter during pre-market hours on Wednesday. The Company reported a loss of shares by 16%. It also reported that for the fourth quarter, earnings loss of USD 24 cents per share on revenue of USD 822....