China’s e-commerce startup Pinduoduo said to raise over $1b from Sequoia, Tencent

Pinduoduo founder Colin Huang
Pinduoduo founder Colin Huang. Photographer: Qilai Shen/Bloomberg

A Chinese e-commerce site called Pinduoduo, or PDD, has raised more than $1 billion at a valuation of about $15 billion, roughly 10 times the level just a year ago, according to people familiar with the matter.

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