Bloomberg Audio Studios, Podcasts, Radio news.
Hey there, Spencer.
How's it going?
Hi.
Good.
Bloomberg's Spencer Soper has been covering e commerce companies like Amazon and ebay for more than a decade.
And recently he's been following one shopping app super closely.
Temu.
And Spencer, do you shop on Taemu?
Yes, yes I do.
Do you?
What do you buy?
Just some random things.
I got some MOT ocean sensing lights for under the cabinets in the kitchen and then I've also got some gardening supplies like drip irrigation things.
Temu is an e commerce marketplace owned by the Chinese company PDD.
It started selling in the US in 2022 and it's been growing fast.
So fast that it's now the second biggest online shopping platform right after Amazon.
Yeah,
it very quickly became the most downloaded shopping app in the US I think the last numbers I saw were 50 million active monthly users.
One key reason that Temu is able to win over so many US Customers is its competitive pricing.