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Shanghai, China, 1 May (EFE).- Chinese start-up Pinduoduo is setting its sights on becoming the world’s largest platform for agricultural products after storming into China’s e-commerce industry six years ago, managing to overtake giants such as Alibaba on some metrics.
“We provide a platform where merchants can sell their products directly to consumers. We serve almost 800 million users,” Andre Zhu, vice president of the company told Efe.
In 2020, the company counted 788.4 million active annual users who make at least one order, above Alibaba’s 779 million.
Although still far below Alibaba’s valuation of $635 billion, Pinduoduo completed a $1.7 billion IPO in New York in 2018 and already has a market capitalization of about $170 billion.
Pinduoduo, de start-up a plantar cara a Alibaba en China en menos de 6 años
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Pinduoduo, de start-up a plantar cara a Alibaba en China en menos de 6 años
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Shortening the time between harvesting and cooking ensures freshness
American farm-to-table pioneer Alice Waters started a food revolution in 1971 with the opening of her restaurant, Chez Panisse, in Berkeley, California. She championed the serving of local in-season ingredients grown by local producers.
Fifty years on, farm-to-table has become a global social movement, driven by concerns over food provenance, the distance food has to travel to land on your plate, and who benefits from the production.
In China, a seismic transformation is similarly taking place with the rise of online grocery shopping as the proverbial farm is being brought closer to the table by the likes of Pinduoduo.