The bargain app Temu, which has gained spectacular popularity with American consumers, is shifting business priorities beyond the U.S., people close to the company said. Temu, owned by Chinese e-commerce giant PDD Holdings, wants to limit risks and seek other sources of growth. Temu said that its expansion to new markets doesn’t reflect a reduced emphasis on the U.S. Temu and Shein both say the tax exemption isn’t critical to their success. Temu said the allegations have no merit and that its app is independently certified as meeting strict data-security standards.

Source: Wall Street Journal May 13, 2024 14:17 UTC