PDD Holdings
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| Public | |
| Traded as |
|
| ISIN | 🆔 |
| Industry | Commerce |
| Founded 📆 | |
| Founder 👔 | |
Area served 🗺️ | Worldwide |
Key people | Lei Chen Haifeng Lin Nanpeng Shen Qi Lu George Yong-Boon Yeo Anthony Kam |
| Brands | Temu[1] Pinduoduo[2] |
| Revenue🤑 |  US$14.742 Billion (Fiscal Year Ended December 31, 2021)[3] |
| US$1.082 Billion (Fiscal Year Ended December 31, 2021)[3] | |
| US$1.219 Billion (Fiscal Year Ended December 31, 2021)[3] | |
| Total assets | US$28.435 Billion (Fiscal Year Ended December 31, 2021)[3] |
| Total equity | US$11.787 Billion (Fiscal Year Ended December 31, 2021)[3] |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
PDD Holdings is a multinational commerce holding company. It owns a portfolio of companies, which include social commerce platform Pinduoduo in China, e-commerce marketplace Temu in the U.S..[4][5][6] PDD Holdings has been listed on the Nasdaq since 2018 with the ticker PDD.[7] It is a constituent stock of the Nasdaq-100 Index.[8]
In 2021, PDD Holdings fulfilled 61 billion orders, connecting more than 11 million merchants to almost 900 million users globally in 2021.[9]
Management[edit]
As of July 2021, 6 members sit on PDD Holding’s board, the majority of whom are independent directors. The directors are Lei Chen, Haifeng Lin, Nanpeng Shen, Qi Lu, George Yong-Boon Yeo and Anthony Kam Ping Leung.[10]
On July 1, 2020, PDD Holdings announced the appointment of Lei Chen as its CEO.[11] Chen was appointed the chairman of the board on March 17, 2021.[12]
Structure[edit]
PDD Holdings has built a global network of sourcing, logistic and fulfilment capabilities that is shared by its various business units, including Pinduoduo and Temu.[4]
Pinduoduo was founded in 2015 through PDD Holding’s Hong Kong subsidiary (HongKong Walnut Street Limited) and China subsidiaries (Shanghai Xunmeng Information Technology Co., Ltd.). It started as an online fresh produce platform, and later became a social commerce platform cross multiple categories.[13] Agriculture remains as an important business of Pinduoduo.[14][15]
Temu is an online marketplace across all categories.[16] It was launched in 2022 to serve the U.S. market through Delaware-incorporated Whaleco Inc.[17] Temu features general merchandise sourced from merchants and brands globally and offered at wholesale prices to individual buyers.[18]
References[edit]
- ↑ Liao, Rita (22 November 2022). "Pinduoduo's sister shopping app Temu tops US App Store". TechCrunch. Retrieved 9 December 2022.
- ↑ "Pinduoduo - Together, More Savings, More Fun". en.pinduoduo.com. Pinduoduo. Retrieved 11 December 2022.
- ↑ 3.0 3.1 3.2 3.3 3.4 "Pinduoduo Announces Fourth Quarter & Full Year 2021 Unaudited Financial Results". investor.pinduoduo.com. 31 December 2021. Retrieved 24 March 2022.
- ↑ 4.0 4.1 Tarique, Ammar. "Temu — A new e-commerce sensation". Khaleej Times. Retrieved 8 December 2022.
- ↑ Fan, Cafe (30 November 2022). "PDD posts higher revenue in Q3, says Temu will strive to create 'unique value' · TechNode". TechNode. Retrieved 8 December 2022.
- ↑ Ahmad, Samreen. "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 11 December 2022.
- ↑ Xie, Stella Yifan. "Chinese E-Commerce Startup Fetches Nearly $24 Billion Valuation in Nasdaq IPO". WSJ. Retrieved 19 November 2022.
- ↑ Mahaney, Ben. "China's Pinduoduo To Join Nasdaq-100, Pushing Out NetApp". finance.yahoo.com. Retrieved 19 November 2022.
- ↑ "Pinduoduo Inc. Annual/Transition Report 20-F". SEC.report. Retrieved 19 November 2022.
- ↑ "Proxy Statement for Annual General Meeting". www.sec.gov. Retrieved 19 November 2022.
- ↑ Jajoo, Shishir (14 April 2021). "Pinduoduo CEO Chen Lei On Why It Doesn't Take a Genius To Run the Consumer Internet Giant". Entrepreneur. Retrieved 19 November 2022.
- ↑ Flannery, Russell. "Badger Successes In China: Pinduoduo's Chairman, New CEO Share U.S. Connections". Forbes. Retrieved 19 November 2022.
- ↑ "Pinduoduo Inc. Representing 342,400,000 Class A Ordinary Shares". www.sec.gov. Retrieved 19 November 2022.
- ↑ Liao, Rita (3 December 2021). "Why Pinduoduo is putting all its profit into agriculture". TechCrunch. Retrieved 9 December 2022.
- ↑ Nga, Lawrence (5 April 2022). "Why Pinduoduo's Huge Bet in Agriculture Is Critical to Its Future". The Motley Fool. Retrieved 9 December 2022.
- ↑ STERN, AVI. "The real deal, why can Temu offer such cheap price? Everything you need". The Jerusalem Post | JPost.com. Retrieved 8 December 2022.
- ↑ Qu, Tracy (2 September 2022). "A new Shein rival from China's budget e-commerce king promises cheap fashion". South China Morning Post. Retrieved 21 November 2022.
- ↑ "Consumers can now shop like bulk buyers at Temu and pay wholesale prices". www.msn.com. Retrieved 21 November 2022.
External links[edit]
- Official website
- Business data for PDD Holdings: Google Finance
- Yahoo! Finance
- Bloomberg
- Reuters
- SEC filings
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