Pinduoduo to invest $13.7 billion to transform, upgrade merchants
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FILE PHOTO: The logo of e-commerce app Pinduoduo is displayed next to mobile phones displaying the app, in this illustration picture taken October 25, 2023. REUTERS/Florence Lo/Illustration/File Photo
HONG KONG (Reuters) - Chinese e-commerce platform Pinduoduo, which is owned by PDD Holdings, will invest 100 billion yuan ($13.7 billion)over the next three years in transforming and upgrading platform merchants, Pinduoduo said on Thursday.
($1 = 7.2958 yuan)
(Reporting by Farah Master and the Beijing newsroom; Editing by Tom Hogue)
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