Jack Ma , the co-founder of Alibaba Group, praised Pinduoduo for its success in the e-commerce market and urged Alibaba to correct its course. Pinduoduo , also known as PDD Holdings, has gained popularity in China and has recently become a rival to Amazon and Walmart in the US with its shopping app Temu.
Following Ma's comments, PDD's market valuation surpassed Alibaba's, marking a significant change in the industry.
Jack Ma Alibaba Pinduoduo E-Commerce Market Success Rival Amazon Walmart
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