Walmart announced this week the acquisition of the virtual reality startup Spatialand, with the goal of using the startup company to build new ways of shopping experiences across the company’s different websites and stores. Spatialand makes software tools that let creators transform existing content into immersive, virtual reality experiences.
Last year Spatialand worked on a project with Walmart’s technology incubator, Store No. 8, on a virtual reality software platform that helps create VR experiences.
The goal of Store No. 8 was to discover the possibilities offered by cutting-edge technology that could be useful to Walmart’s retail goals. The project’s name comes after a store that was built in a bottling plant during Walmart’s early days.
Walmart incubator director Katie Finnegan will take over as interim CEO of the new virtual reality company. The startup’s founder, Kim Cooper, and about 10 employees, will join Walmart in the deal.
The new team, as Finnegan explains, will “develop and explore new products and uses of VR through immersive retail environments that can be incorporated by all facets of Walmart, online and offline.”
Walmart did not disclose the price paid for Spatialand.