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Walmart, In Biggest Deal In Two Years, Buys Advertising Tech Firm Vibe.co

19 hours 19 minutes ago
Walmart is acquiring self-serve connected-TV ad platform Vibe.co for a reported $1.4 billion, adding it to an advertising ecosystem that already includes smart-TV maker Vizio. AdExchanger reports: On Tuesday, Walmart announced that it is buying Vibe.co, the French self-serve ad platform that specializes in helping small brands buy streaming commercials with similar ease and precision as they get from search and social. Vibe has been vying for a bigger share of the ad dollars moving to connected TV, especially in the US, as evidenced by the company's ubiquitous billboards in major cities including New York and San Francisco. Now, Vibe joins Walmart Connect's commerce ecosystem alongside the smart TV maker Vizio. And Vibe's tech is poised to help unify Walmart's growing CTV footprint with the closed-loop attribution provided by its retail sales data. [...] Together, Walmart and Vibe.co strive to "build the best ecosystem for the performance TV market," Vibe CEO and Co-Founder Arthur Querou told AdExchanger. Performance CTV has a high ceiling for growth. The performance budgets dedicated for streaming platforms are still small potatoes compared to search and social, Querou said. Only one-quarter of CTV ad campaigns have lower-funnel objectives, and that number has been static for years, according to data from Advertiser Perceptions. Now that Walmart owns both Vibe and Vizio, advertisers should have an easier time tying streaming campaigns to shopper data. That promise stands to win Walmart more marketing dollars earmarked for retail media and streaming behemoths -- including Amazon. Walmart is especially interested in attracting more small- and medium-sized businesses (SMBs) who lack the tools, budgets or teams to invest in streaming TV, a Walmart spokesperson told AdExchanger. Other ad platforms, including MNTN and Magnite, have likewise targeted SMB advertisers as a source for continued growth in the CTV market. By adding Vibe.co, Walmart can court SMBs with the pitch that its new self-serve tools will make it easier for them to execute CTV campaigns. Plus, SMBs tend to prioritize performance campaigns, since they are under more pressure to justify tighter ad budgets and thus have to be more selective about which platforms they advertise on. And Walmart is better positioned than most platforms to prove its ads drove performance thanks to its retail data foundation.

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Mark Zuckerberg Directed Meta To Create a Prediction Markets App

20 hours 19 minutes ago
An anonymous reader quotes a report from the New York Times: Mr. Zuckerberg, the chief executive of Meta, recently dispatched a small team at his company to create a smartphone app similar to Polymarket and Kalshi, two employees with knowledge of the matter said. Users would not wager money, and the app would probably rely on a video game-like points system instead, one person said, though the company had not ruled out the eventual use of real money betting. The app is internally referred to as "Arena" and would function independently from Meta's social networking apps, which include Facebook, Instagram, WhatsApp and Messenger, said the employees, who spoke on the condition of anonymity to discuss confidential plans. Meta aims to grow the app by leveraging its large social networking audiences and directing them toward using it, they said. The effort, which insiders characterized as experimental but a top priority, is part of a broader push by Mr. Zuckerberg to create new types of apps based on emerging social behavior online. More than 3.56 billion people visit one or more of Meta's apps every day, an amount that has raised questions about whether those platforms have reached a saturation point. Arena is one of a handful of apps that Meta is trying out. Others include one called Meta Photos, another stand-alone app which would create new types of media using artificial intelligence, the employees said. [...] Meta insiders have cautioned that Arena remains in development and may not be released. But as executives search for ways to keep the world's largest social media sites thriving, Mr. Zuckerberg appears to be relying on his well-worn product development strategy: Follow the users.

Read more of this story at Slashdot.

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