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To drive customer engagement and bring in shoppers, Walmart has teamed up with video content developer Eko for a joint venture dubbed W*E Interactive Ventures. The two companies will develop content such as cooking shows and toy catalogs, Reuters reported.
Walmart reportedly plans to invest $250 million in the venture, a source familiar with the matter told Reuters, but a Walmart executive did not confirm the amount to the newswire. In the past, Eko has taken in investments from the likes of Intel Capital and Sequoia Capital.
Eko CEO Yoni Bloch will head up the joint venture, Eko’s executive chairman and chief media officer, Nancy Tellem, will serve on the board and Jane Rosenthal will serve
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