Reportedly, Walmart Stores, Inc. (WMT) to acquire the technology and assets of PaperG Inc., which does business as Thunder Industries and uses automation to create digital ads. Terms of the deal were not disclosed. The deal does not include Thunder’s existing customer contracts but includes a major part of the company’s workforce.
Walmart will use Thunder’s technology to launch a self-service tool that helps advertisers make and buy numerous versions of display ads targeting different kinds of consumers on its properties.
“As we continue to grow our media business we need to find ways that we can easily serve all suppliers—be it companies who have been Walmart suppliers for years or brand new marketplace suppliers,” “The new display self-serve platform and the integration of Thunder’s technology does just that,” stated Janey Whiteside, chief customer officer at Walmart, in a statement.
Walmart and other giant retailers like Kroger Co. and Target Corp. are looking to build a digital-ad offering to generate new revenue by using their shopper data to help advertisers & marketers select and target customers online and in stores. Walmart has not disclosed the size of its ad business but has previously said it doubled ad revenue in the past year. The retailer has revamped its ad-sales group, Walmart Media Group, and has renamed it to Walmart Connect, and is working on building new ad tools to attract more advertisers and ad revenue.
The deal with Thunder will enhance Walmart’s efforts by helping Walmart focus more on small businesses, a key area of growth as more consumers shop online.
Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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