PDD Holdings Revenue Doubles as Consumers Seek ‘Value for Money'

PDD Holdings, the multinational commerce group that owns and operates shopping platforms Pinduoduo and Temu, saw its revenue double year-over-year as consumers sought “value for money.”The company’s total revenues in the fourth quarter of 2023 were $12.5 billion, up 123% from the same quarter a year earlier, PDD Holdings said in a Wednesday (March 20) press release.“In the fourth quarter, we saw growing demand driven by encouraging consumer sentiment,” Jiazhen Zhao, executive director and co-CEO of PDD Hold ...