China's Online Shopping Giants Look Westward
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The "short-term headwinds" Amazon CEO Andy Jassy has expressed concerns about are blowing harder.
PDD Holdings, the company behind the discount shopping app Pinduoduo, has moved its headquarters from Shanghai to Dublin, signaling a major push into international e-commerce. Simultaneously the online commerce wing of Alibaba is mulling a US IPO, sources told Bloomberg. Perhaps SoftBank's public listing of chipmaker Arm just gave them a bad case of IPO FOMO.
Source Fool.com
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