Walmart is one of the nation’s more prominent advertisers, but, increasingly, it’s looking to become a bigger sell of advertising as well.
The retailing giant, which offers video-advertising inventory around its stores and via its Vizio TV-manufacturing unit, said Tuesday that it intends to acquire Vibe.co, a platform that allows advertisers to buy and create digital ads. Walmart sees the purchase as one way to facilitate more business from small and medium-sized marketers who might not typically buy commercials on a national media platform.
Terms of the deal were not disclosed, but Walmart indicated the transaction was subject to a waiting period and other customary closing conditions.
“Walmart Connect is focused on making commerce media more accessible, more measurable and easier to activate for advertisers of all sizes,” said Ryan Mayward, general manager and senior vice president, Walmart Connect U.S., in a prepared statement “Vibe.co has created a purpose-built platform that simplifies streaming TV advertising, and together, we can help more businesses connect with customers across streaming environments while measuring the impact of those campaigns through Walmart’s commerce capabilities.”
