ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Tencent-backed Pinduoduo accused of inflating revenues

Short-seller that brought down Samsonite chief goes after China ecommerce group

Users make purchases through Pinduoduo's app for group discounts. The company has been hit by a probe and a lawsuit in recent months.   © Reuters

SHENZHEN (Financial Times) -- Pinduoduo, the Tencent-backed ecommerce company that reached a peak valuation of $33bn after listing in July this year, has been accused of inflating revenues and falsely trimming losses in a scathing attack by the Texas-based activist fund Blue Orca.

Shanghai-based Pinduoduo is one of 30-odd Chinese tech companies that headed to the public markets this year. A wave of enthusiasm for the sector boosted valuations but a subsequent souring means that virtually all are now below their listing prices.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more