Why Pinduoduo is putting all its profit into agriculture

For the past few years, Pinduoduo has been widely regarded as Alibaba’s strongest challenger. While Alibaba reported 863 million annual active consumers across its retail platforms in the 12 months ended September, Pinduoduo’s monthly active users exceeded 740 million in the quarter ended September. In its pursuit of new growth engines, Pinduoduo is taking a … Read more

Francophone African super app Gozem grabs $5M to expand and offer more services

Gozem, a super app that provides a host of services — including transport, e-commerce and financial services in Francophone Africa — has raised $5 million in Series A financing, the company confirmed to TechCrunch. The Togo- and Singapore-based company received investment from AAIC, Thunes (TransferTo), Momentum Ventures (SMRT), Innoport Ventures (Schulte Group), CMC Ventures (National … Read more

Markai raises $4M from Pear VC, Sea Capital and others to buy Chinese e-commerce brands

China has attracted yet another e-commerce roll-up to enter its gargantuan e-commerce market. Markai, founded by two Stanford business school grads, has joined the fray to buy out Chinese brands seeking global consumers. So-called brand roll-ups, or e-commerce aggregators, have cropped up in Europe and the U.S. over the past few years. Usually venture-backed, they … Read more