Temu, a fast-growing e-commerce platform known for cheap deals, is making inroads into new markets as its parent firm sets up a base in Dublin, joining a raft of tech giants including Meta and Twitter that have opened offices in the tax-friendly Irish capital.

Semafor was the first to notice and report the move to Dublin earlier this week.

PDD Holdings, the corporate entity from Dublin that owns Temu, also owns Pinduoduo, a company that has emerged since its founding in 2015 by ex-Google engineer Colin Huang to be one of China's largest online marketplaces.

From the sound of it, PDD Holdings was founded to segregate the branding and some of the operational efforts between globally-facing Temu and China-focused Pinduoduo. Prior to Temu's launch in 2022, the "principal executive offices" running Pinduoduo were Shanghai-based Pinduoduo Inc.

Pinduoduo is still based out of Shanghai while Temu is headquartered in Boston. Temu's teams in Boston and Dublin mostly perform functions in tax, marketing and legal matters, according to its employees' LinkedIn profiles.

In its annual report filed in late April, the Dublin entity was stated as the "principal executive offices" of PDD Holdings. The filing didn't break down Temu's earnings as the platform hadn't had a "material impact" on the parent's financial results in 2022 even though it had shown immense momentum in the first couple of months of its launch.

At the time of writing, Temu is ranked No.1 in the App Store's overall category in Australia, Canada, New Zealand, the U.K., and the U.S., according to data analytics firm Data.ai.