China's E-commerce Giant Pinduoduo Makes US Debut, Intensifies Rivalry With Amazon - PDD Holdings (NASDAQ:PDD)

Chinese e-commerce platform Pinduoduo Inc PDD quietly launched in the U.S., aiming to crack an Amazon.com Inc AMZN-dominated market, Nikkei Asia reports.
China's fast-fashion heavyweight Shein also made inroads in the market.
Pinduoduo kept a very low profile launch of Temu, the first overseas expansion of the Tencent Holding Ltd TCEHY-backed platform, which went live for U.S. users on September 1.
Also Read: US TikTok Frenzy Forces China's PinduoDuo's Hand In US Expansion Plans
The Temu site sells a range of products from clothes to electronics at relatively low prices but lacks the vast selection of some of its competitors.
Pinduoduo will reportedly conduct a trial from September 1 to September 15.
For the first vendors on Temu, Pinduoduo prefers those who already have cross-border e-commerce experience on platforms like Amazon or Shein.
Chelsey Tam, the senior equity analyst at Morningstar, said she believes Pinduoduo wants to bring the group-buying model for which it is known to markets outside China.
But she warned that Pinduoduo might find the going harder in new markets.
Alibaba Group Holding Limited BABA has invested heavily in Southeast Asia in the past few years.
Shein recently surpassed Amazon as the most downloaded shopping app in the U.S.
Chinese companies, including Alibaba and Tencent, emphasized overseas focus to beat the domestic regulatory crackdown impact that shaved off over $1 trillion of market value from the companies.
Price Action: PDD shares traded lower by 0.92% at $72.03 on the last check Friday.

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