In 2018, the total amount of social e-commerce financing exceeded CNY 20 billion. Moreover, 80% of unplanned consumption comes from social e-commerce.

The advantages of social e-commerce are that it can shorten the supply chain, realize the explosive growth of users through fission, and open the blue-sea market of low-tier-cities users.

Total revenues in Q1 reached CNY 4,545.2 million, an increase of 228% for the same period in 2018. Operating loss was CNY 2,120.5 million, compared with operating loss of CNY 253.1 million in the same quarter of 2018.

Pinduoduo has a low-tier-city 'gene' ingrained into its culture since its inception. The company's development is driven largely by rural consumers and it has a strong incentive to revolutionize the production and supply chains.

The investment is led by Hillhouse Capital, Xiang He Captial, Sequoia, Sinovation Ventures, Gaorong Capital, IDG Capital, Captial Today. The money will be applied to supply chain upgrading.

Yunji, together with Pinduoduo, are two start-up companies that go to public in a very short period of time and also sell the concept of e-commerce through social-network.

Pinduoduo released its first shareholder letter and 2018 fiscal year financial results on the evening of April 24th.

Pinduoduo cooperated with 6 other platform merchants to purchase 42.53 tons of coffee beans and other raw materials from poor households at a price of CNY 407,600.