US TikTok Frenzy Forces China's PinduoDuo's Hand In US Expansion Plans - PDD Holdings (NASDAQ:PDD)

One of China’s biggest e-commerce operators Pinduoduo Inc PDD, is braced to enter the North American market in its first cross-border expansion, Bloomberg reports.
Pinduoduo chased new growth avenues amid the economic slowdown, following in the footsteps of successful international ventures like Shein and AliExpress.
Pinduoduo, with an annual active user base of more than 880 million, prepared its merchant partners for the move.
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Pinduoduo held a 13% share of Chinese online retail and has recently curtailed its heavy investment in online groceries, seen as the most promising new outlet for growth in the country.
As it adopts cost-control measures, the U.S. market offers an attractive outlet for exploiting its infrastructure and merchant network.
Pinduoduo aims to clock a 2.5% revenue growth for the second quarter.
ByteDance Ltd-owned TikTok enjoyed massive success in the U.S. at the cost of Meta Platforms Inc META Facebook.
Alphabet Inc GOOG GOOGL and Amazon.com Inc AMZN have also started emulating TikTok to grow their subscriber base.
Market leader Alibaba Group Holding Ltd BABA, which runs AliExpress, registered its first-ever sales squeeze during the same period.
Price Action: PDD shares traded higher by 6.48% at $48.73 on the last check Monday.