Facebook and Walmart seek to deepen relationship

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The chief executive of Facebook Inc., Mark Zuckerberg, is close to adding to the world’s largest retailer to their friends list.

Zuckerberg and his management team will spend two days this week at the headquarters of Wal-Mart Stores Inc. in Bentonville, Arkansas, meeting with U.S. network executives to discuss ways to “deepen” their relationship.

The Facebook team will meet with the CEO of Wal-Mart, Mike Duke, and his lieutenants on Friday in the first meeting of its kind between the two corporate boards.

Representatives of both companies declined to discuss specific agenda of the meeting on Friday, saying that the summit seeks to strengthen the relationship between the world’s largest social network and the leading global retailer.

The meeting comes two months after the IPO of Facebook, which was marred by technical errors in the Nasdaq, as well as concerns about long-term prospects of the company.

Facebook, which reports its second quarter results on July 26, gets most of its revenue from advertising sales.

Many investors and analysts believe the company could find a new revenue stream to play a greater role in online retail sales, perhaps taking a portion of transactions that are generated in your social network.

In a statement, Facebook said they look forward to “deepen” its relationship with Wal-Mart, noting that the social network can learn from the “experience (the retailer) and its board on how to build a strong, lasting and valuable long term. “

The Wal-Mart page on Facebook has more than 17 million followers and the company also pays for advertising on Facebook. Expand your influence on the Internet is key to Wal-Mart, because consumers increasingly buy through computers , tablets or smartphones.

The retail giant, which had sales of 443.850 billion last year, still far behind Amazon in online sales.

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