Temu, an e-commerce company owned by the Chinese group Pinduoduo, is expected to start operating in Brazil by the end of 2023.
According to reports by Neofeed, Temu started to study the Brazilian market at the beginning of the year, when it brought a delegation of Chinese people to visit the country. By the end of the year, Temu should start selling in Brazil, in a cross-border operation that is classic for many Chinese companies.
Headquartered in Shanghai, the company’s application was launched in September last year by the Chinese group Pinduoduo and sells everything from clothing and jewelry to household items and items for cars.
The company is publicly traded on Nasdaq, is worth more than $100 billion, and has approximately 900 million users in China alone. In addition, the application became the most downloaded in the e-commerce segment in the United States.
(Source: Baguete Diário)