THE WHAT? Walmart has acquired the technology and IP behind ad-tech company Thunder, which will play a key part in the rollout of its new self-serve display advertising platform set to roll out later this year.
THE DETAILS The U.S. retailer is undertaking an expansion of its media network, with the self-service tool and Thunder’s technology allowing advertisers to make and buy different versions of display ads targeting different types of consumers.
Walmart will take on the majority of Thunder’s employees, however, existing customer contracts will be wound down, according to WSJ.com.
THE WHY? Walmart is looking to take a greater slice of marketing budgets from smaller businesses with the new self-serve display advertising platform. The move mirrors the likes of Kroger and Target, which have also been driving their digital ad revenues in order to challenge e-commerce kings such as Amazon.
Janey Whiteside, Chief Customer Officer at Walmart, said in a statement, “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.”