China's newest online shopping giant got its start as an online platform that offered "group buying" and connected farmers directly with urban consumers. Now Pinduoduo, which rebranded to PDD Holdings earlier this year, is worrying two of China's biggest e-commerce brands.
Richard Liu, the founder of JD.com, one of China's two major online shopping platforms, recently told staff in a post on the company's internal discussion board that that it was time for the company to be more proactive. "We need to change, or there’s no way out for our company," he wrote, according to Bloomberg.
