Pinduoduo reports big surge in Q1 revenue

Social e-commerce giant Pinduoduo reported soaring revenue growth in the first quarter of this year thanks to an expanding user base. Pinduoduo’s revenue totaled 4.54 billion yuan ($677.3 million) in the first quarter, surging 228 percent yearon-year, driven mainly by an increase in its online marketing service revenues, its financial report said on Monday. Its gross merchandise volume in the twelve-month period ending on March 31, 2019, reached 557.4 billion yuan, up 181