- Temu’s Super Bowl ads have helped give a lift to U.S.-traded shares of parent company PDD Holdings.
- The big Chinese e-commerce company ran three animated ads during the game, and two after it was finished.
- Temu is also hoping to entice U.S. shoppers with $15 million in coupons and giveaways.
The Kansas City Chief may have been the big winners at Sunday’s Super Bowl, but Chinese e-commerce company Temu apparently scored as well.
American Depositary Receipts (ADRs) of Temu’s parent, PDD Holdings (PDD), jumped the day after Temu ran three commercials during the big game and two after the game ended. The animation ads featured a girl dancing with bargain prices popping up on various items as she passed, and the phrase “Shop Like a Billionaire” as the tag line.
It was the second-straight year Temu ran spots during the Super Bowl. While the company didn’t say how much it paid for the advertising, it’s been estimated that a 30-second commercial at the game at Allegiant Stadium in Las Vegas cost between $6.5 million and $7 million.
Along with hoping to attract American consumers with its Super Bowl messaging, Temu is also offering $15 million in coupons and giveaways this year.
PDD Holdings ADRs were up 3.2% at $131.59 at around 3:20 p.m. ET Monday. The stock traded at a nearly three-year high last month, and although they’ve lost some ground since then, they’re still up about 37% in the past year.