MiMedia Holdings Ltd. announced the signing of a major strategic partnership with Walmart Latin America. As part of this partnership, MiMedia will be integrated on millions of new, Bait-procured smartphones to be sold to consumers in Mexico. Importantly, the MiMedia mobile app will also be pushed out as a download over the air ("OTA") update up to the existing 18.3 million of Android smartphones already in Bait consumer hands.
Additionally, a concerted marketing effort will occur, both online and in stores, to induce millions of Walmart consumers to make the MiMedia and Bait cloud platform part of their daily lives. As a key component of the partnership, MiMedia will also collaborate with and integrate into the Walmart digital ecosystem of apps that serves the entire Latin America. Walmart's ecosystem consists of some of the continent's most used apps, including "Cashi" for digital payments (reported 5 million+ users) and "Salud" for healthcare (reported 2.5 million+ memberships) among others.
The connection of the MiMedia/Bait consumer cloud platform within the Walmart mobile app ecosystem can drive significant user engagement to the MiMedia platform and generate immediate revenue and cash flow. Walmart reported 46 million contactable customers in its "Digital Connection" database as of Fourth Quarter 2024, a massive number of users to be targeted for program participation.
