News Formal

A look at Temu’s murky business model

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The finances of Temu’s parent company are shrouded in secrecy

Instagram overtook TikTok in new app downloads last year, US President Joe Biden announced a plan to set up a port on the coast of Gaza to help facilitate aid delivery to the enclave, and a huge corruption case in Vietnam has captured the country’s attention. Plus, the FT’s Dan McCrum unpacks the mystery behind how Temu took over the retail world.

Credit: Temu Mentioned in this podcast: Trial begins for Vietnamese property tycoon accused of $12bn fraud The mysterious rise of the Chinese ecommerce giant behind Temu US plans to establish port on Gaza coast to step up aid deliveries Instagram overtakes TikTok in app downloads in race for new users The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann.

 

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