Walmart is trying to become a top ten advertising platform by expanding its Walmart Connect media network (formerly Walmart Media Group). As part of this strategy, it recently acquired the IP and technology of an ad-tech solution company called Thunder. This technology allows for self-serve display advertising and automation that makes it very easy to launch and fine-tune digital campaigns for a variety of advertisers. As part of the acquisition, Walmart will also gain majority of Thunder’s current employees but not their existing contracts. Acquiring Thunder helps to complete Walmart’s ad-tech suite as they previously integrated an omnichannel analytics solution over the summer (Performance Dashboard) and they are currently working with The Trade Desk to develop a DSP (Digital Signal Processor).
It’s an interesting move for Walmart given the current
environment with the global pandemic, which has accelerated digital trends
across the board. Creative automation
has gained momentum as marketers invest their spend in digital and it’s
estimated that 11% of tasks at media agencies will be automated by 2023. Without sharing specific numbers, Walmart stated
that its ad revenues and total advertisers using its media network doubled last
year but the major question that remains is if they’ll be able to compete in
this space with the likes of tech giants Facebook and Amazon.
Article Reference: https://www.marketingdive.com/news/walmart-acquires-thunder-ad-tech-as-it-preps-self-serve-display-portal/594538/
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