A little more than a month after announcing its intention to acquire Vibe.co, Walmart has closed the deal.
The retailer has acquired Vibe.co, a 5-year-old adtech firm that sells software for buying streaming ads. Vibe.co’s clients are primarily small to midsize brands, which could help give Walmart a stronger foothold with smaller suppliers as well as non-endemic brands that don’t sell items on Walmart’s platform.
Walmart reportedly paid $1.4 billion for Vibe.co, according to The Wall Street Journal.
Retailers, most notably Walmart and Amazon, are building out streaming ad businesses aimed at grabbing TV advertising budgets. Walmart’s pitch is currently focused on helping endemic brands that sell products at Walmart grow.
