NEW YORK -- Nasdaq-listed Chinese e-commerce company Pinduoduo on Wednesday surprised Wall Street with strong quarterly results, with its foray into to urban areas paying off as sales rose.
The four-year-old company grew to its current scale in the shadow of Alibaba Group Holding and JD.com by serving shoppers in rural areas and smaller cities -- then a relatively untapped consumer base for e-commerce. Now, it is making a move upmarket.
