How Temu parent PDD dethroned Alibaba to become China's most valuable e-commerce company
PDD(PDD) cnbc.com·2024-05-29 03:23Chinese e-commerce giant Pinduoduo has been behind its rivals Alibaba and JD.com when it comes to international expansion. Now Pinduoduo has launched a U.S. e-commerce site called Temu.PDD's value-for-money positioning and growth of its Temu marketplace has helped the tech giant lead China's e-commerce arena, analysts said, making it the country's most valuable company in the segment.PDD Holdings reported stellar first-quarter results on Wednesday, sending its shares surging as much as 7.5%, and driving its ...