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Temu

🌎 temu.com

Temu is an e-commerce company founded in 2022 in Boston, Massachusetts. It connects consumers with millions of merchandise partners, manufacturers, and brands, offering a wide selection of quality products at near wholesale prices. With a mission to empower consumers and merchandise partners, Temu operates in over 70 countries and is known for its low prices and extensive product range, including fashion, electronics, homeware, and more.

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Temu - Latest News and Updates

• In late September, Temu, an e-commerce platform owned by Chinese PDD Holdings, began operations in Vietnam, allowing users to shop and pay in Vietnamese, but only filed for official registration with the Ministry of Industry and Trade on October 24.
• Temu is preparing for a 2026 trial at London's High Court against Shein over copyright and competition claims.
• Temu's operator, Elementary Innovation Pte. Ltd., completed tax registration in Vietnam on September 4, 2024, and will file quarterly revenue reports starting with Q3 2024.
• On October 31, the European Commission launched an investigation into Temu's commercial practices due to concerns about potentially dangerous products and the app's addictive nature.
• EU tech regulators are investigating Temu for potentially breaching rules against selling illegal products and for its addictive service design, which could result in significant fines.

• Temu is under investigation by the European Union for allegedly failing to prevent the sale of illegal products on its platform.
• Wenchi (Vince) Yu, CPA has joined Temu as Director of Business Development in Australia, previously holding a position at another company.
• Temu's user base reached 91% of Amazon's in August, driven by a low-price strategy and efficient logistics, and it topped iOS shopping app downloads in the US in Q3.
• Temu removed copied versions of Welsh firm's cards from its site after being alerted to potential infringements.
• Temu has become the fourth most popular online shopping destination in Switzerland, surpassing AliExpress and gaining significant traction among Swiss consumers.

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