“In terms of the group’s global business, since its launch in September 2022, Temu has entered 50 countries and regions,” revealed Chen Lei, Chairman and Co-CEO of Pinduoduo, at the company’s Q4 2023 earnings call on the evening of March 20.
Chen Lei stated that the global business is still in its early stages, and Pinduoduo will implement a high-quality development strategy in it, while also preparing for long-term investments.
Data released by the web analytics tool SimilarWeb shows that as of December 2023, the number of unique visitors to Temu reached 467 million.
In terms of R&D, Pinduoduo‘s total R&D expenses for the whole year of 2023 were 11 billion yuan. Of this, Q4 R&D expenses increased by 19% year-on-year, reaching 2.9 billion yuan.
Chen Lei stated that they will maintain the intensity of R&D investments this year to explore and nurture new productive forces for high-quality development, and enhance the supporting capabilities of cutting-edge technology in agriculture and manufacturing.
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