Temu, the e-commerce site owned by Chinese giant PDD, is spending heavily to break into the U.S. market and compete with established e-commerce giants like Amazon. According to a recent report by Wired, the company loses an average of $30 on each order placed on its site, primarily by subsidizing the cost of international shipping. PDD, Temu’s parent company, used a similar strategy to gain...
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Creator Economy startups
Beehiiv’s Deal for an Ad Tech Startup Shows Strains on Founders
Let’s kick off this week with some creator economy M&A news. Beehiiv, a newsletter publishing startup, is acquiring Swapstack, an advertising marketplace for newsletters, Beehiiv’s CEO Tyler Denk confirmed to me. Beehiiv is acquiring the smaller firm’s tech and relationships with advertisers. Swapstack co-founder and CEO Jake Schonberger and a Swapstack account manager will join nearly...
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