As everyone clamors to predict what the future of shopping will look like, Walmart is placing bets on "virtual." Walmart's technology incubator, Store No 8, just bought virtual reality (VR) startup Spatialand for an undisclosed amount.
The startup worked with Walmart last year to create a proof of concept VR experience for "how we envision millions may shop in the future," explained Katie Finnegan, Principal & Founder Store No 8, VP, Incubation Walmart, in a blog post.
Spatialand will create the foundation of Store No 8’s third portfolio company, which Kim Cooper of Spatialand and consultant Jeremy Welt will operate as co-founders. Finnegan will join the team as interim CEO, in addition to her current role.