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Tencent-Backed PDD Eyes $1.6 Billion in U.S. IPO

Tencent-Backed PDD Eyes $1.6 Billion in U.S. IPO

Pinduoduo Inc., the Chinese e-commerce operator backed by Tencent, plans to raise as much as $1.6 billion in a U.S. IPO to bankroll a fight against rivals like Alibaba. Known as PDD, Pinduoduo was founded ...