Walmart buys a VR company on its way to invent ‘contextual commerce’
The purchase establishes the third ‘portfolio company’ through the giant retailer’s tech incubator, Store No 8.
Walmart, which has been gearing up to take on Amazon’s continued competitive threat, added a new item this week to its arsenal: a virtual reality startup called Spatialand.
The purchase was actually made through Walmart’s tech incubator, Store No 8, which had worked with Spatialand in 2017 on a VR project. Announced last March, the incubator’s name comes from one of the original Walmart store locations in Arkansas, where founder Sam Walton liked to test retail ideas.
Spatialand, which offers VR development tools, will operate as a portfolio company, Store No 8’s third, and will work to create new VR/AR applications for both the online Walmart and the physical stores.