Chinese ecommerce giant PDD Holdings has opened an office in Dublin, Ireland, according to recent filings with the United States Securities and Exchange Commission. The company, which owns the Chinese online platform Pinduoduo and the international ecommerce comet Temu, has stated that the Dublin office will serve as its legal registration for its overseas business Temu.

‍
However, PDD has denied that the Dublin office is its head office, with a spokesperson telling Chinese media that the reports by international news outlets were “seriously inaccurate”. The spokesperson said that the headquarters has always been in Shanghai, China, and it will not change.

‍
The move to Dublin is likely due to the attractive tax regime in Ireland, which has seen other tech giants such as Apple, Google and Meta choose the country as the location for their European headquarters.

‍
Temu, which was launched in the US last September, has quickly become popular thanks to welcome discounts, giveaways, and gamified referrals. The shopping platform has since expanded to Canada, Australia, and New Zealand, and at the end of April, the app became available in the United Kingdom, France, Germany, Italy, Spain, and The Netherlands. Temu uses an order threshold of ten euros and shoppers enjoy free shipping and free returns within 90 days.

‍
PDD Holdings was founded in 2015 and quickly became one of China’s largest ecommerce operators. The company went public on Nasdaq in 2018 and reported a revenue of over 5 billion euros in the fourth quarter. Jiazhen Zhao, one of the founding members of PDD, was recently named as CEO.

Sources:

Reuters
CNBC
United States Securities and Exchange Commission
Chinese media
Ecommerce News Europe
Sources: https://ecommercenews.eu/chinese-ecommerce-giant-settles-in-dublin/