Chinese e-commerce platform Pinduoduo, owned by PDD Holdings, announced plans to invest 100 billion yuan (US$13.7 billion) over the next three years.

The investment aims to enhance the transformation and upgrading of merchants on its platform.

The company released the details in a statement on Apr. 3.

Recent Pinduoduo developments

Timeline26-Feb-2025 🤖 Pinduoduo hires ex-Baidu experts to build AI modelsPinduoduo forms teams for AI model developmentFocus on pricing, recommendations, and customer service23-May-2024 📈 Pinduoduo more than doubles revenue, grows operating profits by 275% in Q1Revenue soared 131% to $12 billion in Q1 2024Operating profit surged 275% to $3.6 billion30-Nov-2023 📈 Pinduoduo close to overtaking Alibaba as China’s most valuable ecommerce firmPinduoduo briefly surpassed Alibaba’s valuePinduoduo: $188.3B, Alibaba: $187B05-Oct-2023 🛒 Pinduoduo’s Temu offers SEA something unique, but gaining a foothold will be hardTemu launches in Philippines & Malaysia, targeting ecom.Competition rises with unique model; longer shipping times.21-Mar-2023 🛑 Pinduoduo app barred on Google Play Store over security concernsGoogle suspends Pinduoduo app over malware claimsPinduoduo denies allegations, cites revenue growth15-Feb-2023 🛍️ Pinduoduo’s sister company Temu expands to CanadaTemu launches in Canada, targeting $61B marketNew users get 30% discount on their first purchase