The curious case of Temu's U.S. ‘headquarters' [Yahoo! Finance]
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Source: Yahoo! Finance
A subsidiary of Chinese e-commerce giant PDD (market cap of $167 billion), Temu only launched in the U.S. in the fall of 2022 but is already the most popular shopping app in the U.S. on both Android and Apple devices. Yes, more popular than Amazon. Its appeal is straightforward: It sells a wide range of items with free shipping at what should be too-good-to-be-true prices—from $1.61 USB cables, to 88-cent eyeliner sets, to $38 memory foam mattresses. It keeps customers coming back by gamifying the shopping experience and offering a seemingly endless array of coupons. Its prices are possible through some combination of tight control over Chinese suppliers, direct-from-manufacturer shipping, an advantageous century-old trade rule known as “de minimis ,” and almost certainly selling some merchandise at a loss. Proponents say its model is a long-term threat to giant U.S. retailers, including dollar store chains and maybe even Walmart and Amazon eventually. Critics contend its astrono
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 5/6/24 - Form 144
- 5/3/24 - Form 4
- 5/3/24 - Form DEFA14A
- AMZN's page on the SEC website