Who owns the Temu and what is its condition?

Posted in LIFESTYLE He 01/08/2024 · 22:23

Topic It is one of the online sales companies that has gained the most relevance in recent months, to the point where it is beginning to surpass giants such as its compatriot Alibaba or North America’s Amazon. But who is the owner this company, which already has several advertisements on social networks how much is his net worth?

For the last financial year, Tema won 17.443 million euros (320.776 million pesos), while Alibaba had a collection of 15.083 million euros (277.376 million pesos). Although the company’s growth is not without controversy, as according to a US cybersecurity firm, its app is being installed with malware to obtain people’s data.

Who owns Temu and how much money does he have?

The owner of Temu is a Chinese businessman and computer scientist named Colin Huangwho ranks 23rd in the ranking of the world’s richest millionaires, according to Bloomberg. Before founding this Chinese company, Huang worked for important US companies such as Microsoft and Google.

According to the latest index Bloomberg, Colin Huang’s net worth is estimated at $52 billion. (about 884 billion pesos), and his wealth increased by 437 million dollars (about 7.4 billion pesos) compared to the last measurement. Has extensive experience in the world of technology.

The first online retail company he founded was Oku, which he sold for just $2.2 million. He soon founded other companies such as Leqi, which allows foreign companies to sell their goods in stores in China; Xunmeng, which developed Internet video games.

But his biggest success before creating Temu was Pinduduwhich is already one of the most important online shopping apps in China, a market of 1.425 million people and the second most populous country in the world after India, which will overtake it in 2023.

Both Pindudu and Temu are part of SDA Holdings, a Chinese conglomerate based in Shanghai and listed on Nasdaq. One of the curiosities of Temu is that its main headquarters is not in some Chinese city, but in Boston, USA.

According to Grizzly Research, a cybersecurity firm, one of Temu’s biggest scandals involves illegally selling its customers’ data. The report indicates that Pindoudou will also engage in the same practices as the current Chinese online sales giant.