Chinese shopping app Temu spent $2B on Facebook, Instagram ads: report

Temu, the Chinese fast fashion brand that has taken e-commerce retail in the United States by storm in recent months, was the biggest ad spender for Meta Platforms’ social media sites Facebook and Instagram, according to a report.Temu’s parent company PDD Holdings spent around $2 billion on ads with Meta last year alone, according to The Wall Street Journal.The $2 billion figure represents 10% of Meta’s ad revenue last year, which is almost double compared to two years ago.In its most recent earnings report ...