If you shop online, you've likely noticed Temu, the fast-growing e-commerce marketplace. But the owner of Temu is a mystery to most Americans. Temu's parent company, PDD Holdings (PDD -3.98%), is one of China's largest e-commerce companies, and it's employed a similar playbook with Temu as it has with Pinduoduo, its primary business in China.
NASDAQ: PDD
Key Data Points
The competitor to Shein and Amazon (AMZN -2.45%) has grown rapidly by selling a wide range of bargain-priced goods in major international markets, like the U.S. It's advertised aggressively to build brand awareness and interest in its products.
Since launching, Temu has quickly established a presence felt by competitors, consumers, and even in the online advertising industry, where it's spent heavily on digital ads. Temu doesn't report revenue, but its website had 2.11 billion visits in June 2025, and nearly a third of its traffic comes from the U.S., its largest market.
Who is the owner of Temu?
PDD Holdings, the parent company of Pinduoduo, owns Temu. Pinduoduo is a Chinese e-commerce platform that has grown rapidly thanks to discount prices and a social commerce model similar to Groupon (GRPN -0.43%).
Founded in 2015, Pinduoduo is younger than both Alibaba (BABA +1.73%) and JD.com (JD -0.17%), China's leading e-commerce companies. However, it has quickly gained market share, challenging the pair for e-commerce supremacy in the world's biggest online retail market.
PDD launched Temu in September 2022 in the United States, establishing a significant overseas presence for the first time. Since then, Temu has expanded to dozens of countries around Europe, Latin America, and Africa. As of April 2025, it was doing business in more than 90 markets.
2. PDD Partners, 370.8 million shares, 6.5% of shares outstanding
PDD Partners is listed as an institutional shareholder in PDD Holdings. However, the entity is ultimately controlled by Colin Huang, the sole director of the two entities under which PDD Partners is a subsidiary. Its controlling entity is a limited liability holding company in the Virgin Islands.
3. Baillie Gifford, 34.4 million American depositary shares (ADS), 2.4% of shares outstanding
Bailie Gifford is an investment management firm based in Scotland and owns PDD in its worldwide long-term global growth fund.
4. BlackRock, 33.3 million ADS, 2.4% of shares outstanding
BlackRock (BLK +0.26%) is one of the world's largest investment managers, operating several exchange-traded funds (ETFs) under the iShares brand. It owns PDD Holdings, now one of the largest tech stocks in China, through both ETFs and mutual funds.
5. Vanguard Group, 32 million ADS, 2.3% of shares outstanding
Vanguard Group is another massive investment manager, owning shares of PDD in both its ETFs and mutual funds.
Who is on the board of directors of Temu?
Temu doesn't have its own board of directors. As a subsidiary of PDD Holdings, PDD's board oversees Temu. PDD has six directors on its board and three principal executive officers who are not on the board.
Name | Position | Board Member Since |
|---|---|---|
Lei Chen | Chairman and Co-CEO | 2020 |
Jiazhen Zhao | Executive Director and Co-CEO | 2023 |
Anthony Kam Ping Leung | Independent Director | 2019 |
Haifeng Lin | Director | 2017 |
Ivonne M.C.M. Rietjens | Independent Director | 2023 |
George Yong-Boon Yeo | Independent Director | 2018 |
Jun Liu | Vice President of Finance | n/a |
Junyun Xiao | Senior Vice President of Operations | n/a |
Zhenwei Zheng | Senior Vice President of Product Development | n/a |
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