Pinduoduo, China’s online shopping platform, outperforms Alibaba

China has a new leader in the online shopping arena. PDD, the parent company of the popular Pinduoduo app, has overtaken Alibaba to become the most valuable e-commerce company in China. PDD’s impressive financial performance, with net income tripling year-over-year, coupled with Alibaba’s recent troubles, has cemented PDD’s position at the top.