Facebook and Walmart Are Up to Something This Week
Today, Facebook CEO Mark Zuckerberg and his team of senior managers is set to meet with Walmart CEO Mike Duke and a bunch of his senior guys. This marks the first time that this has ever happened.
Then, Facebook COO Sheryl Sandberg is going to talk to Walmart employees at the retail giant’s monthly meeting on Saturday, according to Reuters.
So, why is Zuck and the whole team traveling to Bentonville, Arkansas to talk to Walmart execs?
Simply put – we don’t know for sure. But it has something to do with broadening the two companies’ relationship.
In a statement, Facebook said that it was looking forward to “deepening” its relationship with Walmart. Facebook also said that they can learn from Walmart’s “experience and management team about building a strong, durable and valuable company for the long term.”
Walmart also painted broad strokes with a statement:
“We appreciate and value the ongoing strategic partnership we have with Facebook. Their help and support with testing new and innovative products and technologies to reach our customers has been invaluable.”
It’s not a stretch of the imagination to think that some expanded retail partnership could come out of this meeting (or meetings like it in the future). Walmart already pays to advertise on Facebook, and they have even delved into the app culture with a Facebook app they launched last Christmas for online shopping.
Walmart has also shown some initiative with other online programs like it’s “Pay with Cash” feature that lets online shoppers purchase items, pay with cash at a local Walmart store, and have their products delivered – all plastic free.
Facebook, of course, is always looking for ways other than ads to boost revenue.
You have to think that Facebook and Walmart can partner up to do something other than exile Pitbull to Alaska – funny as that may be.