With the acquisition, Walmart will be able to enhance its conversational platform. Here are the top-line bullets you need to know.
Who are the parties to the deal?
- Botmock: Canada-based Botmock enables companies to design conversational experiences for their customers, and it operates across several platforms and channels, namely WhatsApp, Bot Slack, Bot Web/Mobile Chat, and Alexa. The company offers drag-and-drop tools that streamline the chatbot and voice bot design process for non-developers. Botmock maintains a presence in 30 countries and is used by 4,000 teams globally. Its clients include agencies, educators, non-profit organizations, and product teams, such as Accenture, Oracle, British Telecom, and Enbridge.
- Walmart: Arkansas-based Walmart is a multinational retailer that operates hypermarkets, discount department stores, and grocery stores. It oversees 10,500 stores and clubs, operating under 48 banners, across 24 countries. The company employs 2.2M associates — 1.6M work in the US.
Why does the market matter?
- The global chatbot market is projected to grow at a CAGR of 23.5% and reach a value of $10.5B by 2026, according to Markets and Markets.
- Around 43% of the people that own smart speakers use them for shopping purposes, according to a Review 42 study.
- The rising demand for 24/7 customer service has contributed to market growth.