Walmart Buys Vibe.co in $1.4 Billion Push for Ad-Supported Streaming

Retail giant Walmart has finalized its acquisition of Vibe.co, an adtech firm that specializes in selling software for buying streaming ads. The deal was reportedly worth $1.4 billion, according to The Wall Street Journal.

Vibe.co's clients are primarily small to midsize brands, which could give Walmart a stronger foothold with these suppliers as well as non-endemic brands that don't sell items on Walmart's platform.

The acquisition is part of Walmart's push into ad-supported streaming to compete with Amazon. Retailers like Walmart and Amazon are building out their own streaming ad businesses to grab TV advertising budgets.