Temu, the fast-growing e-commerce platform known for cheap deals, is making its way into new markets as the parent company has established a base in Dublin, joining a group of tech giants including Meta and Twitter who have opened offices in Ireland’s tax-friendly capital.
PDD Holdings, the Dublin-based corporate entity responsible for Temu, also owns Pinduoduo, which has become one of the largest online marketplaces in China since it was launched in 2015 by former Google engineer Colin Huang.
From the sound of it, PDD Holdings is set up to separate the brand and some operational efforts between world-facing Temu and China-focused Pinduoduo. Prior to starting Temu in 2022, the “main executive offices” running Pinduoduo were the Shanghai-based Pinduoduo Corporation.
Pinduoduo is still based out of Shanghai while Temu is headquartered in Boston. Temu’s teams in Boston and Dublin mostly perform jobs in tax, marketing and legal matters, according to the LinkedIn profiles of its employees.
In its annual report published in late April, the Dublin entity was listed as the “principal executive offices” of PDD Holdings. The filing did not break Temu’s earnings because the platform had no “material impact” on the parent company’s financial results in 2022 despite its strong momentum in the first few months of its launch.
At the time of writing, Temu is ranked #1 in the overall App Store category in Australia, Canada, New Zealand, the United Kingdom, and the United States, according to data analytics firm Data.ai.