Independent research on the U.S. markets, Baptista Research

Baptista Research

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. 

We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Walmart has moved deeper into connected-TV advertising with its reported $1.4 billion acquisition of French ad-tech platform Vibe.co, its largest transaction since the $2.3 billion Vizio purchase in 2024.</li><li>The deal reportedly includes about $1.2 billion in cash and roughly $180 million tied to senior executives and retention, with Vibe CEO Arthur Querou, CTO Franck Tetzlaff, and other employees expected to join Walmart’s advertising unit.</li><li>The timing is notable because Walmart’s latest quarterly update already showed strong momentum in higher-margin commerce solutions: global advertising grew 37%, Walmart U.S. advertising rose 36%, U.S. marketplace sales expanded nearly 50%, and enterprise eCommerce increased 26%.</li></ul>

Walmart has moved deeper into connected-TV advertising with its reported $1.4 billion acquisition of French ad-tech platform Vibe.co, its largest transaction since the $2.3 billion Vizio purchase in 2024.The deal reportedly includes about $1.2 billion in cash and roughly $180 million tied to senior executives and retention, with Vibe CEO Arthur Querou, CTO Franck Tetzlaff, and other employees expected to join Walmart’s advertising unit.The timing is notable because Walmart’s latest quarterly update already showed strong momentum in higher-margin commerce solutions: global advertising grew 37%, Walmart U.S. advertising rose 36%, U.S. marketplace sales expanded nearly 50%, and enterprise eCommerce increased 26%.

Walmart's Latest Takeover Play Could Help It Chase Amazon’s Ad Machine!