The market valuation of Pinduoduo (Temu) is now the same as Alibaba (Aliexpress). What if the e-commerce platform crushed its brother-enemy? Nothing stops the platform.
- The valuation of Temu and Aliexpress is now the same
- Temu’s growth is dazzling in a very short time
- Temu was founded by Huang Zheng whose fortune is estimated at $45 billion
We told you about it in our columns: Temu has as many visitors as Aliexpress. The Chinese platform is very aggressive to the point of catching up with its competitor and brother-enemy. In terms of valuation, businesses are also neck and neck.
To read > You don’t know Temu? Here’s what you need to know about this site!
The stock market valuation of Pinduoduo and Alibaba is the same
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More precisely, this is the market valuation of the Pinduoduo group to which Temu belongs. As Le Figaro reports, it only took a few years for the e-commerce site to to compete with Alibaba, owner of Aliexpress and former market leader.
Temu owes its success to entrepreneur Huang Zheng, founder of PDD Holdings Inc. which is the owner of Pinduoduo. His estimated fortune at 45 billion dollars owes nothing to chance and the man once confided that he was following in the footsteps of Jack Ma, co-founder of Alibaba. Without the success of Aliexpress, there would not have been Temu despite strong mistrust from the authorities.
Huang Zheng left the head of his company in 2021 to prevent China from making it a state company.
Temu’s success is not based on chance, far from it. The site offers very aggressive prices, sometimes bordering on lies. Which has already alerted the French authorities who are demanding measures against the platform. The company also offers a lot of freebies with free products or vouchers for new signups. Sometimes up to 200 euros!
On Temu, you can find everything at lower prices than elsewhere, regardless of the category. Obviously, it is often of cheap products which convince buyers in the midst of inflation even if young people are much less interested. Marketing is also very important with huge investments. The company even aired an ad during the Super Bowl, the most watched event in the United States.
How far will Temu go? It’s a safe bet that the platform will overtake Aliexpress in all areas soon. On the other hand, the Chinese company remains very far from the strike of the juggernaut Amazon
Source: Le Figaro