BEIJING, Nov. 22 (Xinhua) -- Chinese online group discounter Pinduoduo Inc. (PDD.US) Tuesday announced that its revenue skyrocketed 679 percent year on year to 3.37 billion yuan in the third quarter ended September 30, up 24 percent from that in the second quarter.
The jump was mainly due to the strong growth of revenues from online marketing services. The number of active buyers in the 12-month period ended September 30 increased by 42 million compared with the second quarter, and the average monthly increase of new users reached 37 million.
According to its financial report, GMV in the last 12 months increased 386 percent year on year to 344.8 billion yuan, while active buyers rose 144 percent year over year to 385.5 million.
Annual spending per active buyer in the 12-month period ended September 30, 2018 reached 894.4 yuan, an increase of 99 percent year on year.
Pinduoduo delivered another quarter of strong and sustained growth, as its unique and fun shopping experience with value-for-money products continued to gain traction among consumers. Annual spending per active buyer almost doubled year on year, demonstrating increasing consumer trust in the platform. In future, the company will continue to invest in technology, said Huang Zheng, chairman and CEO of Pinduoduo.
In addition, the company's fight against sales of infringement and counterfeit products still moves forward. In September alone, the platform shut down more than 5,500 shops suspected of violating the law, removed more than 7.7 million goods in question, and blocked more than 3 million links to counterfeit goods. After its listing, the company also removed more than 30 copycat brands, said the company. (Edited by Wu Shuang, wushuang2018@xinhua.org)
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