PDD Targets US Online Market With Costly Super Bowl Ad

PDD Holdings Inc's PDD U.S. shopping app Temu aired a commercial during the Super Bowl.
The Alibaba Group Holding Limited BABA rival's move highlights its ambition to crack the U.S. e-commerce market, following in the footsteps of another Chinese online shopping company Shein, CNBC reports.
A Super Bowl ad spot costs millions of dollars.
The commercial aired during the first and third quarters of the game between the Philadelphia Eagles and the Kansas City Chiefs is titled "Shop Like A Billionaire."
PDD tended to focus on lower-income consumers by offering heavily discounted products. It also focused on bringing agricultural products, like vegetables, onto its platform to differentiate from rivals.
PDD's cross-border shopping site Temu in the U.S. quickly gained popularity and is ranked second on the Apple Inc AAPL App Store and first on the Alphabet Inc GOOG GOOGL Google Play store.
Temu sells products in several categories, from fashion to electronics. It is currently offering free shipping for a limited time as part of its Super Bowl promotion and what it calls "Game Day Deals."
Price Action: PDD shares traded higher by 2.44% at $94.71 premarket on the last check Monday.