PDD owns both China’s Pinduoduo and U.S. platform Temu.
PINDUODUO
PDD,
the owner of discount-focused online retail platforms Pinduoduo and Temu, has made obvious advances against Chinese rival
Alibaba
this year—but investors may be more surprised its gained momentum against U.S. rivals from
Amazon
to
Dollar General.
PDD’s
Pinduoduo competes against
Alibaba
as well as
JD.com,
and has seen staggering growth this year amid China’s economic slowdown, with financially pressed consumers flocking to its budget-friendly alternatives. But its U.S. platform, Temu, which launched ahead of the fourth quarter of 2022, is also making remarkable strides.
Sales at U.S. Temu have…
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