04:17 PM EST, 03/07/2024 (MT Newswires) -- PDD Holdings ( PDD )-operated (PDD) Temu, a US-based online marketplace, became Meta Platforms' ( META ) top advertiser by revenue in 2023 and was one of the top five advertisers at Alphabet's Google ( GOOG ) last year, the Wall Street Journal reported Thursday.

Chinese e-commerce company PDD spent nearly $2 billion on advertisements last year at Meta alone, according to the report, citing people familiar with the matter.

A Temu spokesman disputed the $2 billion figure while declining to disclose the amount spent by the company for advertisements at Meta, the report said.

Neither PDD, Meta nor Google ( GOOG ) immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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