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Brought to you by RivalSense - an AI tool for monitoring any company.

RivalSense tracks the most important product launches, fundraising news, partnerships, hiring activities, pricing changes, tech news, vendors, corporate filings, media mentions, and other developments of companies you're following 💡

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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

• Temu faces a potential existential threat from proposed Trump tariffs and changes to de minimis rules, which could disrupt its business model reliant on low-cost imports.
• Temu launched in Nigeria in November 2024 with a direct-from-manufacturer model, aiming to disrupt the e-commerce market and challenge established players like Jumia.
• The Department of Homeland Security is investigating Temu for potential violations of the Uyghur Forced Labor Prevention Act, which could result in a ban from selling in the US.
• Temu's U.S. sales rose 18% during the first two weeks of November, outperforming major retailers like Amazon and Target.
• Temu generated $24.8 billion in revenue in 2022 and had nearly 52 million downloads in the first half of 2023.

• Over 10 million people have placed orders on Temu, with an average order value of $25 and a conversion rate of 2%.
• Temu offers a partner program with up to 30% commission on purchases, a 10 zł welcome bonus for new partners, and additional bonuses for referring new users.
• A growing number of people plan to shop on Temu for Black Friday, taking market share from major U.S. retailers.

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