At $114bn, its market value is above HSBC – but questions remain about business model and if it will ever be profitable
It is a company that is just about to turn five years old but is valued more highly than the oil giant Shell, or HSBC, one of the largest banks in the world.
Pinduoduo is the latest behemoth produced by China’s tech machine, an online shopping site that specialises in extraordinary discounts on everything from tissues to Teslas. And its market value has more than doubled in recent months to $114bn (£87bn).
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