pinduoduo

Alibaba challenger Pinduoduo is bringing imported goods to rural homes

Pinduoduo, the latest challenger to China’s ecommerce dominators Alibaba and JD.com, wants to bring affordable, imported items to shoppers in China’s smaller cities and rural areas. The three-year-old Tencent-backed ecommerce upstart is recruiting importers to set up shop on its marketplace, shows a message on its website. The business is known for offering cheap, sometimes […]

Chinese e-commerce challenger Pinduoduo is raising over $1 billion more

The price of competing with e-commerce giants Alibaba and JD.com is immense. That’s evidenced by challenger Pinduoduo, commonly known as PDD, which is raising more than $1 billion in fresh capital just six months after it went public. The company announced plans to sell 37 million shares in a move that will raise over $1 billion, going […]

Lightspeed announces new $560 million fund for China

Global investor Lightspeed is starting 2019 with its largest-ever fund for China, where it has backed a number of new internet challengers. The firm announced this week that its fourth China fund has closed with a total capital commitment of $560 million. The firm had a massive 2018, with no fewer than five of its portfolio holding IPOs […]

Mogu’s long journey: From rejecting Alibaba’s advances to US IPO

Mogu, a Tencent-backed service that offers fashion content and products to young women, has joined a string of Chinese tech companies pressing ahead to sell their shares through initial public offerings in the U.S. before year’s end. Mogu priced its sale at $14 per share on Wednesday, toward the lower end of a marketed range. […]

China’s secret startup advantage: liquidity

This year’s rush of IPOs from Chinese tech companies has dominated headlines, but what’s more interesting is how quickly they got there. Traditionally, “going public” represented the gratifying culmination of sleepless nights and missed birthdays that went into building a company. The peak of a lengthy climb, where founders and VCs would finally see the […]

Chinese tech stocks tumble from more than just trade tensions

Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China. Reports of trade tensions between China and the US in the past few months have been hard to ignore. In early July, the US imposed $34 billion on Chinese goods, prompting the Shenzhen Component Index, dominated by technology and […]