Cloud Company Secures Strategic Partnership in Latin America

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Next-generation consumer cloud platform company MiMedia Holdings Inc. (MIMDF:OTC; MIM:TSXV; KH3:FSE) announced it has signed a major strategic partnership with Walmart Latin America, one of the largest retailers there with US$48 billion in annual revenue and 4,000-plus stores in Mexico and Central America alone.

MiMedia is preparing this year for a significant rollout of its cloud platform, which is set to be integrated into millions of smartphones globally. This initiative aligns with MiMedia’s focus on generating high-margin, recurring revenue through digital advertising and cloud storage subscriptions.

"Partnering with Walmart, the No. 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," said Chief Executive Officer Chris Giordano. "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 smart phone industries. We believe this agreement is just the start of what our two companies can do together in the future."

According to MiMedia's release announcing the partnership, Walmart Latin America has become a major purveyor of smart phones and telecom services via its Mexican subsidiary, 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 at the end of last year.

This spectacular growth has occurred within the 3,000-plus Walmart stores in Mexico, as shoppers purchase smart phones in store and sign up for Bait's nationwide telecom service at point of sale, MiMedia said.

"At this pace of growth, Bait could eclipse AT&T Mexico and become the second-largest telecom provider in the country in 2025," MiMedia noted.

A 'Rapidly Growing Pipeline of Smartphones'

MiMedia said as part of the partnership with Walmart, its platform 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 update up to the existing 18.3 million Android smart phones already in Bait consumer hands.

"Additionally, a concerted marketing effort will occur, both on-line and in stores, to induce millions of Walmart consumers to make the MiMedia and Bait cloud platform part of their daily lives," MiMedia said.

The company said it will also integrate into the Walmart digital ecosystem of apps serving Latin America, including Cashi for digital payments (with a reported 5-million-plus users) and Salud for healthcare (2.5-million-plus memberships).

"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," MiMedia said. "Walmart reported 46 million contactable customers in its database as of Q4 2024, a massive number of users to be targeted for program participation."

Working with Walmart will give MiMeddia a "reliable, rapidly growing pipeline of smartphones, which will be integrated with our platform as the devices' native media gallery," Giordano said. "These devices will provide a constant pipeline of high-margin, recurring revenue for both MiMedia and Walmart."

MiMedia’s strategic expansion is supported by its cloud platform’s broad compatibility across smartphones, tablets, desktops, and web applications. Its business-to-business-to-consumer (B-B-C) distribution model enables seamless integration with telecom carriers and original equipment manufacturers (OEMs), addressing a market need for cloud-based media management solutions.

The company differentiates itself from major tech competitors by offering a private-label cloud platform that partners with OEMs and telecom carriers rather than competing against them. According to MiMedia’s investor materials, the global smartphone market presents a significant opportunity, with its target regions expected to account for over one billion new smartphone users in the next three years.

Cloud Computing Reshaping Industries

Cloud computing has become a fundamental driver of digital transformation, enabling scalable data storage solutions across multiple industries. The demand for cloud-based services has risen as businesses seek efficient ways to manage data, enhance security, and optimize operations.

The global cloud computing market size was estimated at US$602.31 billion in 2023 and is expected to grow at a CAGR of 21.2% from 2024 to 2030, Grand View Research noted.

"The rise of hybrid and multi-cloud solutions is providing businesses with the flexibility and control they crave," researchers wrote. "Companies can now leverage the strengths of different cloud providers, creating a customized infrastructure solution that perfectly aligns with their specific needs. Furthermore, pay-as-you-go pricing models eliminate the upfront costs associated with traditional IT infrastructure, making cloud computing an attractive proposition for businesses of all sizes."

In its February 5 report, Tech Times examined how cloud computing had reshaped industries by enabling scalable solutions and fostering innovation. The article emphasized that businesses across sectors, including healthcare, finance, retail, education, and legal services, had adopted cloud-based systems to improve efficiency and security. It highlighted cloud storage as a key enabler of remote access, collaboration, and automation, noting that its role in digital transformation was expected to continue expanding.

Ownership and Share Structure

MiMedia Holdings Inc. has a market capitalization of approximately CA$25.83 million with 53.02 million basic shares outstanding. 

The company's ownership structure includes 8% held by insiders and management, with the remaining shares held by retail investors.

Over the past 52 weeks, MiMedia's share price has ranged between CA$0.19 and CA$0.60.