Pinduoduo, China's 3rd largest e-commerce giant, made $250 million in profit for Q3

A large part of Pinduoduo's growth was attributed to online marketing


Kenneth Ho

29 Nov, 2021

Pinduoduo, China's 3rd largest e-commerce giant, made $250 million in profit for Q3 | BEAMSTART News

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Pinduoduo, the 3rd largest e-commerce giant from China, has had a great year.

The company's revenues have soared and so has its profits, according to its Q3 2021 report.

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Pinduoduo's Q3 results

  • Pinduoduo made $256.7 million in net profit for the third quarter of 2021.
  • This is a massive change from a year ago, where the company made a net loss of $122.8 million during the same period.
  • Pinduoduo's total revenues also rose significantly by 51%, standing at $3.3 billion.

What drove Pinduoduo's Q3 growth

  • A large part of Pinduoduo's growth was attributed to online marketing services, ranging from advertising, marketing campaigns, and product launches.
  • Online marketing services brought in $2.7 billion in revenues, growing by 44% compared to the previous year.
  • Monthly active users also grew significantly, standing at 741.5 million users — a 15% increase from the same period last year.

Pinduoduo's Q4 plans and beyond

  • Pinduoduo will double-down on R&D investments to introduce new offerings as well as improve its existing range of products.
  • These includes deepening their digital inclusion efforts in agriculture.
  • Pinduoduo is also promoting more young leaders to critical roles in the next six to 12 months.

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