Bengaluru: Walmart CEO Doug McMillon said in an investor call that the company’s global advertising business grew nearly 30% in the second quarter, led by Walmart Connect and Flipkart.
Walmart Connect is a retail media platform, which offers advertisers an opportunity to reach Walmart shoppers online, in the app and across its brick-and-mortar locations. McMillon said, “Flipkart continues to meet our expectations, and the team is gearing up for Big Billion Days. I traveled to India last month and was impressed by how the Flipkart and PhonePe teams are innovating for the customer and driving growth.”
He also said that PhonePe, the digital payments platform that was spun off from Flipkart, continues to see strong growth with annualised total payment volume (TPV) of over $830 billion
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