Pinduoduo’s latest aim: sell $145 billion farm produce in 2025

Pinduoduo’s latest aim: sell $145 billion farm produce in 2025

4 years ago
Anonymous $UzyKJJH9oy

https://techcrunch.com/2020/08/24/pinduoduo-145-billion-farm-produce-2025/

Still working to turn a profit and shake off its fake-goods reputation, China’s e-commerce upstart Pinduoduo set itself another ambitious goal for 2025: surpass 1 trillion yuan or $145 billion annual gross merchandise volume of agricultural products.

The announcement arrived with the company’s Q2 results last Friday. For some context, online sales of agricultural goods in China in 2019 neared 400 billion yuan or $58 billion, a 27% increase from the year before according to stats from the Ministry of Commerce.