Walmart Inc's technology incubator, Store No 8, said it bought virtual reality startup Spatialand to build VR products for the retailer's stores and websites. Spatialand, which worked with Store No 8 on a VR project last year, is a software platform that helps create virtual reality experiences. Store No 8 principal Katie Finnegan will serve interim chief executive of the new VR company, Walmart's tech incubator said in a blog post on Monday. Spatialand's Kim Cooper and Store No 8 consultant Jeremy Welt will assume senior roles in the new firm, it said.
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The financial terms of the deal were not disclosed. The news comes as retailers seek technology advancements to improve in-store and online customer experience. In January, e-commerce giant Amazon.com Inc launched its checkout-free grocery store Amazon Go, which relies on cameras and sensors to track what shoppers remove from the shelves, and what they put back.
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