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by Tyler Durden Wednesday, Jun 09, 2021 - 11:50 PM For a Communist nation, the People s Republic has notoriously weak labor protections. While gig economy workers face tremendous pressure to put in long hours with few breaks, as it turns out, their white-collar cousins are facing similar pressures to put in long hours as well. Nikkei s story starts out with testimony from Andy Wang, an IT professional in Hong Kong, whose company has been ratcheting up efforts to monitor its workforce. They call it DiSanZhiYan, or Third Eye. The software, installed on the laptop of every employee, monitors all their communications and movements, as well as their browsing activity and software and app usage. ....
Pinduoduo's quarterly revenue has more than tripled year-on-year as its strategy of gamifying online shopping has paid off, helped by greater marketing and price subsidies that ate into its overall profit. The e-commerce giant's revenue jumped 239 per cent from last year to 22.17 billion yuan (US$3.3 billion) for the three months ended March , better than the 19.71 billion yuan expected in a Bloomberg poll of 13 analysts. The Nasdaq-listed. ....
1 minute read 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. ....