Downloads of PDD's Temu Surge Over 100% to 74M in 2Q

Temu, the cross-border e-commerce platform of $PDD Holdings(PDD.US)$ , has entered the top 10 global app downloads for the first time in 2Q23. Its business expanded into the European market, driving its app downloads to increase by nearly 1.4x from about 31 million in 1Q23 to about 74 million in 2Q23.

$ByteDance(FT0001)$ Bytedance's TikTok topped the global download charts for the 12th consecutive quarter. CapCut, a video editing app also owned by Bytedance, has been in the top five of the global app download charts since 4Q22.