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PDD Surges 14% After Hit App Temu Wrests Shoppers From Shein

(Bloomberg) PDD Holdings Inc. surged more than 14% after reporting a stronger-than-anticipated doubling in revenue, as hit shopping app Temu ramped up discounts and marketing to grab consumers from Shein and Amazon.com Inc.Most Read from BloombergBillions Wiped Out as Stock-Safety Trade on Wall Street MisfiresMusk’s Cybertruck Is Already a Production Nightmare for TeslaSingapore High Court Grants Injunction Against PM Lee’s BrotherIsrael and Hamas Trade Blame Amid Claims of Truce ViolationsAm ....

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What's The Right Level of AI Investment?

The published version of Forbes CFO newsletter delivers the latest news for chief financial officers and other budget-focused leaders to inboxes every Tuesday. ....

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Shein, controversial fashion retailer, reportedly files for U.S. IPO - National

China-founded fast fashion retailer Shein is gearing up for an initial public offering in the United States, according to reports from Reuters and the Wall Street Journal. ....

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Shein, Skims, Starlink: Billionaire-Linked Brands Could Go Public In 2024

The high-profile companies, tied to billionaires like Kim Kardashian and Elon Musk, could enter a potentially unfriendly market for fresh entrants.
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China's Shein files for US IPO in major test for investor appetite

Fashion company Shein has confidentially filed to go public in the United States, according to two sources familiar with the matter, in what is likely to be one of the most valuable China-founded companies to list in New York. Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering (IPO), and Singapore-based Shein could launch its new share sale some time in 2024, the sources said. Shein has not determined the size of the deal or the valuation at IPO, the sources said. ....

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