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Temu-Owner PDD Soars 13% After Sales Beat Despite Chinese Gloom

(Bloomberg) PDD Holdings Inc. revenue rose a stronger-than-expected 66% after the company behind hit shopping app Temu spent to boost growth at home and abroad to counter a bumpy post-pandemic recovery.Most Read from BloombergCitadel Vets 69,000 Intern Applicants to Find Next Math GeniusesWhat to Do With a 45-Story Skyscraper and No TenantsPutin Agrees to Visit China in First Trip Since Arrest WarrantAuto Union Boss Wants 46% Raise, 32-Hour Work Week in ‘War’ Against Detroit CarmakersGoldman ....

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A Once-Obscure Chinese Startup Overtakes Shein In US

This time last year, hardly anyone in the US knew what Temu was. Now, as American consumers grapple with runaway inflation, the bargain shopping app backed by a Chinese tech company is on a tear, with sales exceeding rival Shein. ....

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