Alibaba Rival PDD Relocates Headquarters To Ireland Even As China’s Regulatory Environment Cools Down – PDD Holdings (NASDAQ:PDD)

  • PDD Holdings Inc PDD migrated its headquarters from China to Ireland, likely to boost its international presence.
  • The parent firm of e-commerce sites Temu and Pinduoduo noted the Irish capital of Dublin as its “principal executive offices,” CNBC cites SEC filings.
  • The Alibaba Group Holding Limited BABA rival was previously listed Shanghai as its principal office.
  • Also Read: Alibaba Cloud Goes Aggressive On Overseas Collaboration
  • PDD started as Pinduoduo, a fast-growing discount e-commerce firm in China, before rebranding to PDD Holdings in 2023.
  • Temu attempts to replicate the success of Chinese fast fashion brand Shein and challenge the likes of Amazon.Com Inc AMZN.
  • PDD has made a big marketing push with Temu in the U.S. and even bought an ad spot at this year’s Super Bowl.
  • Ireland is a popular location for foreign technology companies due to its membership in the European Union and low headline corporation tax rate of 12.5%.
  • Price Action: PDD shares traded higher by 1.58% at $64.53 on the last check Thursday.

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