Pinduoduo to invest $13.7 billion to transform, upgrade merchants

HONG KONG (Reuters) – Chinese e-commerce platform Pinduoduo, which is owned by PDD Holdings, will invest 100 billion yuan ($13.7 billion)over the next three years in transforming and upgrading platform merchants, Pinduoduo said on Thursday.

($1 = 7.2958 yuan)

(Reporting by Farah Master and the Beijing newsroom; Editing by Tom Hogue)