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Walmart copies Amazon: It doesn't just want to sell you stuff. It also wants to sell you, to advertisers.

Walmart is big in almost every way — 4,755 stores, 1.5 million employees and $380 billion in revenue in the U.S. alone. But one part of the world's largest retailer remains minuscule.

"We have a tiny ad business," CEO Doug McMillon told investors in October. "It could be bigger."

With about 300...



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