- MiMedia Holdings (TSXV:MIM) signed a partnership agreement with Walmart Latin America, which generated over US$48 billion in revenue in 2024 across thousands of stores
- Under the agreement, MiMedia’s cloud media platform will be installed on 18.3 million smartphones under subscription to Walmart’s Bait subsidiary in Mexico, plus millions of new phones to be sold into the Mexican market
- MiMedia Holdings operates an AI-based cloud platform for consumer media with millions of users around the world
- MiMedia stock has added 83.33 per cent year-over-year
MiMedia Holdings (TSXV:MIM) signed a partnership agreement with Walmart Latin America, which generated over US$48 billion in revenue in 2024 across thousands of stores.
Walmart Latin America is a top-three purveyor of smartphones and telecom services in Mexico via subsidiary, Bait, counting 18.3 million subscribers as of year-end 2024.
Under the agreement, MiMedia’s cloud media platform will be installed on the devices of these 18.3 million subscribers, plus on millions of new, Bait-procured smartphones to be sold to consumers in Mexico. This more than quadruples MiMedia’s peak of 6 million users reported in its most recent investor presentation.
MiMedia will benefit from a planned marketing campaign, both online and in Walmart stores, to draw consumers’ attention to its seamless user experience and robust organizational tools, including advanced AI technologies.
The platform will also integrate into Walmart’s digital app ecosystem in Latin America, joining digital payments provider Cashi (over 5 millions users) and healthcare app Salud (over 2.5 million users). Walmart reported 46 million contactable customers in its digital database as of Q4 2024.
According to Monday’s news release, “Bait could eclipse AT&T Mexico and become the second-largest telecom provider in the country in 2025,” making the partnership a highly value-accretive signal for the market to consider.
Management will discuss the landmark partnership over Zoom at 4 pm ET on March 20, 2025. Register here.
Leadership insights
“Partnering with Walmart, the #1 company on the Fortune 500, and their largest international subsidiary in Latin America, is a major validator of the MiMedia value proposition, the size of our market opportunity and the strength and quality of our technology platform,” Chris Giordano, MiMedia’s chief executive officer, said in a statement. “We are very excited to add such a high-caliber partner to our strong and growing list of powerful players in the global telecom and smartphone industries. We believe this agreement is just the start of what our two companies can do together in the future.”
“Partnering with Walmart Latin America provides MiMedia with a reliable, rapidly growing pipeline of smartphones, which will be integrated with our platform as the devices’ native media gallery,” Giordano added. “These devices will provide a constant pipeline of high-margin, recurring revenue for both MiMedia and Walmart. We cannot wait to have Walmart’s expansive consumer base enjoy all the incredible technologies offered within our platform and become MiMedia and Walmart ecosystem users for years to come.”
About MiMedia Holdings
MiMedia Holdings operates an AI-based cloud platform for consumer media with millions of users around the world. The company’s primary clients include smartphone makers and telecom participants generally.
MiMedia stock (TSXV:MIM) is up by 7.84 per cent on the news, trading at C$0.55 per share as of 10 am ET. The stock has added 83.33 per cent year-over-year.
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(Top photo: MiMedia)
