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After announcing plans to acquire Vizio in February, Walmart officially owns the company after the $2.3 billion transaction closed<\/a> on Tuesday. The retail giant says the acquisition will help bolster its advertising business, as Platform Plus \u2014 the TV-maker\u2019s advertising and data division \u2014 \u201caccounts for all the company\u2019s [Vizio’s] gross profit.\u201d<\/p>\n<\/div>\n The deal has raised concerns among privacy advocates<\/a>, as Vizio has gotten in trouble over advertising and data tracking in the past. In 2017, it paid a $2.2 million fine<\/a> to settle a Federal Trade Commission lawsuit that accused it of tracking viewers without their consent.<\/p>\n<\/div>\n An acquisition by Walmart could help Vizio compete with other budget-friendly TV brands that rely on advertising as a significant source of revenue. Roku, which started selling its own TVs last year<\/a>, made $908.2 million in advertising sales<\/a> and subscriptions in the third quarter of 2024, with an average revenue per user of $41.10, while Vizio\u2019s last earnings report showed it was making about $37.17 per user.<\/p>\n<\/div>\n Despite the acquisition, Walmart and Vizio will continue operating independently \u201cfor the foreseeable future.\u201d Vizio CEO William Wang\u00a0will also remain in his position.<\/p>\n<\/div>\n \u201cVIZIO has also expertly changed their business over time, like building and quickly scaling a profitable advertising business,\u201d Seth Dallaire, the executive vice president and chief growth officer of Walmart US, said in the announcement. \u201cPairing it with Walmart Connect will be impactful and allow us to invest in our business even further on behalf of our customers.\u201d<\/p>\n<\/div>\n