PDD Holdings—ad spending, facts and profile

Overview PDD Holdings is a multinational e-commerce firm that operates the Pinduoduo and Temu shopping platforms. PDD’s key operations are in China. Nasdaq-listed PDD is registered in the Cayman Islands and lists Dublin as its principal executive offices. Temu is based in Boston. Business segments and operations See more: PDD’s business and brands The company’s annual regulatory filing for the year ended December 2023 said “substantially all of the group’s long-lived assets are located in [China] and substantially all of the group’s revenues are derived from within [China].” The company in February 2023 changed its corporate name to PDD Holdings Inc. from Pinduoduo Inc. Prior to 2023, the company listed Shanghai as its principal executive offices. PDD operates the Pinduoduo and Temu platforms. The Pinduoduo platform, based primarily in China, launched in 2015 to connect merchants with consumers. The platform includes a range of product categories including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items and auto accessories. PDD in September 2022 launched Temu, a global online marketplace that connects consumers with global sellers, manufacturers and brands through Temu’s mobile app and website. Temu competes with other China-centric discounters including AliExpress (owned by Alibaba Group Holding) and Shein. Temu advertised on the Super Bowl in 2023 and 2024. Marketing spending U.S. ad spending: PDD appears in the Ad Age Leading National Advertisers ranking based on U.S. measured-media spending from MediaRadar. The company made its Leading National Advertisers debut in the October 2024 ranking based on 2023 spending. Worldwide ad spending: Total worldwide advertising spending figures shown in the Ad Age World’s Largest Advertisers report are PDD’s stated “advertising expenditures and incentive programs” expenses converted to U.S. dollars at average exchange rates by Ad Age Datacenter. PDD’s stated worldwide advertising expenditures and incentive programs expenses: 2023: 76,429 million renminbi ($10.814 billion) (30.9% of revenue) 2022: 49,971 million renminbi ($7.444 billion) (38.3%) 2021: 41,457 million renminbi ($6.425 billion) (44.1%) 2020: 39,298 million renminbi ($5.697 billion) (66.1%) 2019: 25,868 million renminbi ($3.747 billion) (85.8%) 2018: 12,868 million renminbi ($1.949 billion) (98.1%) 2017: 1,260 million renminbi ($186 million) (72.2%) 2016: 114 million renminbi ($17 million) (22.5%) The company made its World’s Largest Advertisers debut in the October 2023 ranking based on 2022 spending. Advertising expenditures and incentive programs are a subset of PDD’s “sales and marketing expenses.” PDD’s annual regulatory filing for the year ended December 2023 said: “Sales and marketing expenses consist primarily of online and offline advertising and promotions, as well as payroll, employee benefits, share-based compensation expenses and other related expenses associated with sales and marketing. We expect to continue our sales and marketing spending in the foreseeable future as we seek to increase our brand awareness, enhance user engagement and build scale.” The company in its early years broke out “advertising expenditures.” Advertising expenditures, converted to U.S. dollars by Ad Age Datacenter, were $134 million in 2017 (72.0% of “advertising expenditures and incentive programs” expenses) and $5.0 million in 2016 (28.9% of “advertising expenditures and incentive programs” expenses). PDD no longer reports “advertising expenditures” in its annual filing. Links to Ad Age’s advertiser rankings Latest rankings: U.S. The Ad Age Leading National Advertisers 2024 ranking was released Oct. 28, 2024. Ad Age Leading National Advertisers 2024 U.S. ad spending, rankings, analysis and profiles for the biggest marketers Click here Past rankings: U.S. Ad Age Leading National Advertisers 2023 Ad Age Leading National Advertisers 2022 Latest rankings: worldwide The Ad Age World’s Largest Advertisers 2024 ranking was released Dec. 9, 2024. Ad Age World’s Largest Advertisers 2024 Global ad spending, rankings, analysis and profiles for the biggest marketers Click here Past rankings: worldwide Ad Age World’s Largest Advertisers 2023 Ad Age World’s Largest Advertisers 2022 Financial results See more: PDD financial results Read PDD’s annual filing Deals and strategic moves Tencent: PDD in February 2018 entered a strategic cooperation agreement with Tencent Holdings, an internet services firm operating in China. Entities affiliated with Tencent held a 14.1% stake in PDD as of February 2024, according to PDD’s annual regulatory filing. Management and employees Lei Chen is PDD’s chairman and co-CEO. Jiazhen Zhao is executive director and co-CEO. See more: PDD management See more: Temu careers Stock PDD trades on Nasdaq. Ticker: PDD PDD went public in July 2018 with a listing on Nasdaq. See PDD’s 2018 filing for an initial public offering History The company was incorporated in the Cayman Islands in 2015 and launched its Pinduoduo platform that year. The firm launched a second e-commerce platform, Temu, in September 2022. The company in February 2023 changed its corporate name from Pinduoduo Inc. to PDD Holdings Inc. See more: PDD’s history Ad Age Leading National Advertisers 2024 U.S. ad spending, rankings, analysis and profiles for the biggest marketers Click here

PDD Holdings—ad spending, facts and profile

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