Having overtaken e-commerce behemoth Alibaba on the active buyers front, Pinduoduo’s looking upstream at alt-protein and logistics tech, its sustainability head tells AFN.
The app allows shoppers to form groups to collectively buy farm produce and other groceries in bulk at competitive prices.
Pinduoduo served 788 million annual active buyers in 2020 – the first time it has overtaken Alibaba in user numbers.
The Changsha-based platform allows communities to band together to purchase fresh produce in bulk. But suppliers and supermarkets say the model’s stealing their business.
It’s the fourth fundraise of 2020 for the Chinese startup, which allows end customers and businesses to team up and purchase produce in bulk from farmers.
Bunny Maicai is one of several ‘group-buying’ startups in China to have pulled in big bucks lately.
It’s one of several online group-buying platforms for fresh produce in China that has raised major funding from investors in recent months.
The Suzhou-based startup allows customers to group-buy fresh produce directly from farmers by placing orders via WeChat or local stores.
Chilibeli’s agent network gives housewives the opportunity to re-sell fresh farm produce in their local communities at competitive prices.
Sponsored
International Fresh Produce Association launches 2023 Fresh Field Catalyst Accelerator program