Alibaba Rival PDD Relocates Headquarters To Ireland Even As China's Regulatory Environment Cools Down

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.
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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.