Chinese discount e-commerce platform Pinduoduo is now worth more than older retail giant JD.com — barely.

Pinduoduo’s NASDAQ-listed shares closed at $28.74 Thursday (EST), putting the company’s market capitalization at $32.014 billion, ahead of fellow NASDAQ stock JD.com, which had a market cap of $31.974 billion, according to Bloomberg.

Money-losing Pinduoduo’s share price has been fluctuating since its July listing as it fended off accusations that its vendors sold counterfeit goods and the threat of a shareholder class-action suit.

But JD.com has fared worse, losing 30% of its value in the four months since news emerged that its founder Liu Qiangdong was being investigated in the U.S. for rape.