Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 25, according to 36 krypton, Temu's sales in the third quarter of this year have exceeded $5 billion (CTOnews.com Note: currently about 36.55 billion yuan), especially in September, when the first anniversary of its launch, one-day GMV even reached $80 million (currently about 585 million yuan).

Reported that at this rate, with the arrival of the "Black five" and Christmas, Temu may be able to exceed its annual GMV target of $15 billion.

Temu is a cross-border e-commerce platform launched by pinduoduo overseas. It has been launched in a number of overseas markets, including the United States, Canada, Mexico, Australia, the United Kingdom, France, Germany, Italy, as well as Japan and South Korea in Asia. Many of these products are priced at less than 0.90 US dollars or 1 pound, still attracting users at low prices.

In response to the progress of the cross-border business, or Temu, Chen Lei, chairman and chief executive of pinduoduo, said on a conference call after the 2022 earnings release in March this year, "it has only been about half a year since its launch in September last year, and it is still in its early stages. We will be patient, continue to improve ourselves, and strive to create long-term value."

The US was the first market for Temu to enter and contributed most of the results, accounting for 60 per cent of sales, according to people familiar with the matter.

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