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Launched. September 2022. Temu ( / ˈtiːmuː / TEE-moo) is an online marketplace operated by the Chinese e-commerce company PDD Holdings. [8] [9] It offers heavily discounted consumer goods [10] which are mostly shipped to consumers directly from China. [11] [12] Temu's business model has allowed it to become popular among consumers but has ...
The e-commerce platform did just as well on a full-year basis. Total revenue for 2023 increased to 247.6 billion yuan ($34.4 billion,) 90% higher than the previous year. Net income rose 93% to hit ...
Pinduoduo's headquarters are inside the Jin Hongqiao International Center, Shanghai. Pinduoduo Inc. ( Chinese: 拼多多; Pinyin: Pīn duōduō) is a Chinese online retailer with a focus on the traditional agriculture industry. The business is the largest product of PDD Holdings, which also owns the online marketplace Temu.
PDD Holdings, the Dublin-based corporate entity behind Temu, also owns Pinduoduo, which has become one of China’s largest online marketplaces since its launch in 2015 by ex-Google engineer Colin ...
Temu’s edge over its rivals could be its extensive connections with factories in China. Founded in 2015, Pinduoduo quickly grew to challenge the dominance of Alibaba, which started out more than ...
The two company’s results are starkly different. In Q3 2023, PDD’s revenue rose 94% to $9.44 billion from a year earlier, and its net income increased 47% to $2.13 billion in the same period ...
PDD Holdings owns and operates a portfolio of businesses globally, including Temu in the US and Canada and Pinduoduo, the social commerce app in China. How PDD Holdings has grown to such a global ...
Colin Huang, the founder of PDD Holdings, which owns the e-commerce platforms Pinduoduo and Temu, is now the third-richest person in China, according to the latest Hurun China Rich List. Huang's ...