Based on its performance in the first nine months of the year, with the arrival of "Black Friday" and Christmas, Temu may well exceed its annual GMV target of $15 billion.
PDD Holdings’ US shopping app Temu is planning an expansion into Canada, just months after beginning operations in America.
Following its rapid ascent in the Chinese e-commerce market, seven-year-old Pinduoduo is now trying its hand in the US with the launch of Temu.
Chinese e-commerce giant JD.com announced Thursday that company president Xu Lei has been appointed as the new CEO, succeeding Richard Liu, who will remain as the chairman of the board.
On Thursday, Chinese e-commerce platform Pinduoduo and home appliance firm Midea Group reached a strategic cooperation with an annual scale exceeding 10 billion yuan ($1.6 billion).
Chinese e-commerce platform Pinduoduo on Friday launched subsidies for a series of products Apple released on September 15, including the iPhone 13, iPhone 13 Pro, iPad 9, iPad mini 6 and others.
Reports show the impact of the Covid pandemic has basically been eliminated and the advertising market is rapidly rebounding.
Pinduoduo pledged to donate all of its net profit since going public and future earnings to support the country’s farmers and agriculture area until it’s given away a total of 10 billion yuan.
With the Chinese Lunar New Year around the corner, China’s leading interactive e-commerce platform Pinduoduo revealed several reports on consumers’ purchasing behaviors.
On Dec. 11, Pinduoduo, China’s leading interactive e-commerce platform, partnered with Mango TV, Hunan’s provincial satellite TV, to present a live broadcast of the “Double 12 Super Night Gala.”
The “2020 Global Agrilnno (Agriculture) Challenge,” co-sponsored by the Food and Agriculture Organization of the United Nations (FAO) and Zhejiang University, supported by Pinduoduo, was held in China to promote innovative business models.
Chinese social and gaming giant Tencent reported strong Q3 financial results on Thursday, generating a revenue of 125.5 billion yuan ($18.9 billion), up 29% year-on-year and ahead of analysts’ expectations.