Month: May 2023

These are the top startup news stories we published this week

This post was originally published on this site Southeast Asia witnessed many actions this week, from Grab Co-Founder’s stepping down from her active role, to LiveIn’s acquisition of KT Management, besides numerous funding announcements. Here’s a brief of each news article we published this week: Startup Studio Indonesia alumni raise US$65.8M Startup Studio Indonesia (SSI), […]

PDD Holdings sees quarterly revenue up 58%, accompanied by soaring marketing expenses

This post was originally published on this sitePDD Holdings, the parent company of budget shopping app Temu and Pinduoduo, reported its first-quarter earnings on May 26, with revenue surging 58% year-over-year. Total revenues of the Shanghai-headquartered e-tailer in the quarter were 37.64 billion yuan ($15.48 billion), an increase of 58% from 23.79 billion yuan in […]