Done Deal: Walmart closes $1.4 billion acquisition of Vibe.co
Walmart Inc. has expanded its presence in the connected TV advertising space.
The retail giant has completed its acquisition of France’s Vibe.co, a leading self-service streaming TV advertising platform. The deal expands the connected TV capabilities of Walmart Connect — the company's closed-loop commerce media business in the U.S. — and is designed to help make streaming TV advertising more accessible for businesses of all sizes by combining Vibe.co's self-service platform with Walmart Connect's commerce media capabilities.
“The acquisition builds on Walmart's continued investment in its advertising business and strengthens its ability to help advertisers reach customers across streaming, digital and in-store experiences,” the company stated.
A report by The Wall Street Journal had put the cost of the deal at $1.4 billion, which includes a $1.2 billion cash payout to Vibe.co, and approximately $180 million paid to Vibe’s top executives after the transaction closes.
“Today is an exciting milestone for Walmart Connect as we officially welcome the Vibe.co team to Walmart," said Ryan Mayward, GM and senior VP, Walmart Connect U.S. "Vibe has built an exceptional platform that makes streaming TV advertising simple and accessible for businesses of all sizes. Together, we'll build on that foundation to help advertisers connect with customers more seamlessly across streaming, shopping and the broader commerce journey while making advertising more measurable, effective and accessible."
Walmart expects the integration of Vibe.co to support broader adoption of CTV ad media among advertisers across Walmart Connect and the broader connected TV ecosystem, particularly among small-to-mid-sized businesses and mid-market advertisers, including Walmart’s third-party marketplace sellers.
"When we founded Vibe.co, our goal was to make TV advertising as intuitive and accessible as search and social advertising," said Arthur Querou, co-founder and CEO, Vibe.co. "Joining Walmart allows us to bring that vision to a much broader audience. By combining Vibe's technology with Walmart Connect's scale, first-party insights and commerce capabilities, we'll help advertisers achieve even stronger business outcomes while continuing to innovate on behalf of our customers."
