NEW YORK, July 26, 2018 (GLOBE NEWSWIRE) -- Pinduoduo (Nasdaq:PDD), an innovative and fast-growing Chinese “new e-commerce” platform that provides buyers with value-for-money merchandise and fun and interactive shopping experiences, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Since its inception in 2015, Pinduoduo has pioneered and popularized a dynamic shopping experience through “pin,” a team purchase format that seamlessly integrates social experiences with online shopping experiences. Using Pinduoduo, buyers could share product information on popular social networks and invite their friends, family and social contacts to purchase together, through which they not only enjoy the fun and excitement of discovery and shopping, but also a comprehensive selection of value-for-money products. The unique shopping experiences have allowed the company to expand its buyer base and establish its brand recognition and market position rapidly. It has become one of the leading Chinese e-commerce players over just three years, with gross merchandise volume totaling US$41.8 billion over the 12-month period ending June 30, 2018.
“Pinduoduo is not a conventional company,” said Colin Zheng Huang, Pinduoduo Chairman and Chief Executive Officer. “As a growing organization, Pinduoduo will always dedicate itself to doing the right things, to creating value for our society, and to making this world a better and happier place.”
“With over 300 million active buyers and more than a million merchants within just three years, Pinduoduo has proven that its shopping platform has tapped unrealized potential in the Chinese market,” said Nelson Griggs, President, Nasdaq Stock Exchange. “We are proud to welcome Pinduoduo to the Nasdaq Stock Market and are excited to partner with the company as it builds upon its innovative platform in the years to come.”
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a747c72e-232a-4ed3-92aa-55c81bcb3cb8