Walmart Acquires Vibe.co for $1.4B Streaming Ad Push
Walmart has finalized its acquisition of Vibe.co, an adtech firm that specializes in selling software for buying streaming ads. The deal was announced just over a month ago and is reportedly worth $1.4 billion, according to The Wall Street Journal.
Vibe.co's client base primarily consists of small to midsize brands, which could help Walmart expand its reach with these suppliers as well as non-endemic brands that don't sell products on the platform. This strategic move by Walmart is part of a broader effort by retailers to build out streaming ad businesses and compete with Amazon.
Retailers like Walmart are aggressively pursuing this space, aiming to capture TV advertising budgets. Walmart's current pitch focuses on helping endemic brands grow, which could help them tap into new revenue streams.