Temu, PDD’s rapidly expanding overseas business, has reportedly set a $30 billion GMV goal for next year, which would mean nearly doubling its 2023 total, according to Chinese media outlet LatePost. The shopping app is also in the process of negotiating its second commercial ad collaboration with the Super Bowl, the US annual championship NFL game, the report said. Temu made its Super Bowl ad debut this February at a cost of around $14 million, resulting in a 45% surge in downloads and a 20% increase in daily active users on the night of the ad’s launch. “Shop like a billionaire,” the final message of the commercial, has since turned into a memorable Temu slogan. Temu now estimates a total of $14 billion in GMV will be made by the end of 2023, $2 billion less than its target set at the beginning of the year. [LatePost, in Chinese]

Read More