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Deja Mu: Why Temu bought so many Super Bowl ads

Deja Mu: Why Temu bought so many Super Bowl ads

2/13/24 7:00PM

I think I’ve seen this ad before…

Online marketplace Temu ran the same ad so much during the Super Bowl broadcast that newspublications can’t agree on whether it aired 5 or 6 times, as the Chinese-owned platform looks to keep interest in its app burning in the US.

With the average 30-second slot reportedly costing ~$7m, PDD Holdings, the company behind Temu, may have splashed out as much as $42m on the promotions… and that’s before accounting for the $10m in giveaways it promised on game day.

Shop ‘til you drop

Having not even celebrated its 2nd birthday as a company, Temu has exploded onto the crowded e-marketplace landscape, becoming the most downloaded iPhone app last year in the US. The platform promises the ability to “shop like a billionaire”, with its gamified and giveaway-heavy storefront offering millions of low-cost products (mostly shipped from China) proving to have piqued American interest.

Even compared to Shein, an e-commerce giant that’s scaled at hyperspeed, Temu’s rise has been meteoric, with Google searches soaring since its US launch in September 2022. However, like the platform’s controversial compatriot — which it filed an antitrust lawsuit against in July ‘23 — Temu is attracting the ire of politicians and accusations of forced labor, at a time when US sales on the platform are already reportedly dropping.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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