Pinduoduo could launch cross-border e-commerce platform in US in September: report
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Pinduoduo (NASDAQ:PDD) may launch a cross-border e-commerce platform in the early part of September, with the U.S. as its first market, Chinese news outlet Late Post reported.
The news outlet added that Pinduoduo (PDD), which has built its platform connecting farmers and distributors directly with consumers to buy fruits and vegetables, could go after merchants from all categories and have a business model similar to that of Shein, the Chinese fast fashion company.

Pinduoduo (PDD) shares rose nearly 0.5% to $49.62 in premarket trading.
Late Post added that the project is considered one of Pinduoduo's (PDD) most important initiatives at the moment and "several" supervisors that were working on the company's community group buying business have been transferred to work on this task.
Pinduoduo (PDD) did not immediately respond to a request for comment from Seeking Alpha.
Chinese tech stocks, including Pinduoduo (PDD), fell on Tuesday, after conflicting reports suggested that Tencent (OTCPK:TCEHY) may or may not sell its stake in Chinese food delivery company Meituan.