MiMedia to be Integrated onto Millions of Smartphones with Walmart Subsidiary "Bait", the Fastest Growing and Third Largest Telecom Carrier in Mexico with 18.3M+ Subscribers
Partnership to Include Collaboration and Integration with Walmart's Prolific Digital Ecosystem of Mobile Apps Targeting Entire Latin America Continent
New York, New York--(Newsfile Corp. - March 17, 2025) - MiMedia Holdings Ltd. (TSXV: MIM) (OTCQB: MIMDF) (FSE: KH3) ("MiMedia", "Company") is thrilled to announce the signing of a major strategic partnership with Walmart Latin America, a significant milestone for the Company.
Chris Giordano, MiMedia CEO, noted: "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. 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."
Walmart Latin America is one of the largest retailers in Latin America with USD $48 billion+ in annual revenue (1) and 4K+ stores (1) in Mexico and Central America alone (not including other strongholds in region such as Chile). Walmart Latin America has also become a major purveyor of smartphones and telecom services via their Mexican subsidiary, known as Bait.
Bait has quickly become the third largest provider of telecom services in Mexico in only five years since launch, growing to 18.3 million subscribers as of December 31st, 2024 (1). This spectacular growth has occurred within the 3K+ Walmart stores in Mexico (1), as shoppers purchase smartphones in store and sign-up for Bait's nationwide telecom service at point of sale. At this pace of growth, Bait could eclipse AT&T Mexico and become the second largest telecom provider in the country in 2025.
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 (1)) 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 Q4 2024 (1), a massive number of users to be targeted for program participation.
Mr. Giordano added, "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. 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 enjoying all the incredible technologies offered within our platform and to become MiMedia and Walmart ecosystem users for years to come."
Management will be conducting a Company update call via Zoom this Thursday, March 20th at 4PM EST, to provide additional information on the business impact of the Walmart partnership and other recent announcements. To register for the Zoom, please click this link: https://us02web.zoom.us/webinar/register/WN_YwLjjC1ySA-Ni8jD7tfqEw.
About MiMedia: MiMedia Holdings Inc. provides an AI based next-generation consumer cloud platform that enables all types of personal media to be secured in the cloud, accessed seamlessly at any time, across all devices and on all operating systems. The Company's platform differentiates with its rich media experience, robust organization tools, private sharing capabilities and features that drive content re-engagement, many of which are based on advanced and proprietary AI technologies. MiMedia partners with smartphone makers and telecom carriers globally and provides its partners with recurring revenue streams, improved customer retention and market differentiation. The platform services millions of engaged users around the world. For more information about MiMedia, visit: www.mimedia.com.
About Walmart: Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better - anytime and anywhere - in stores, online, and through their mobile devices. Each week, approximately 255 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at x.com/walmart, and on LinkedIn at linkedin.com/company/walmart.
Notice regarding forward-looking statements: This release includes forward-looking statements regarding MiMedia, and their respective businesses, which may include, but is not limited to, statements with respect to the completion of a Transaction, appointment or any other decision made by the business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of MiMedia. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the MiMedia industry, failure to obtain regulatory or shareholder approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although MiMedia have attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MiMedia undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For more information, please contact Chris Giordano or MiMedia Investor Relations at investors@mimedia.com or (888) 502 - 9398.
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