Walmart’s tech incubator, Store No. 8 recently purchased Spatialand, a small virtual reality startup that specializes in software tools designed for transforming existing media content into immersive experiences. The acquisition is part of Walmart’s plans to create future shopping experiences for store locations and websites. Spatialand founder Kim Cooper and 10 employees will join Walmart; Store No. 8 principal Katie Finnegan will serve as interim CEO. Financial terms were not revealed. Continue reading Walmart Acquires VR Startup With Eye on Future of Shopping

In its biggest bid yet to compete more directly with Amazon, Arkansas-based Walmart is acquiring e-commerce startup Jet.com for $3.3 billion ($3 billion in cash and $300 million in shares to be paid over time). Walmart has been busy expanding its online operation, and the Jet.com deal provides it with a shopping site that is adding 400,000 consumers monthly and has already reached a $1 billion gross merchandise run rate. Store-based businesses such as Costco, Target and Walmart have been looking for effective ways to contend with Amazon’s successful online model. Continue reading Walmart to Purchase Jet.com in Bid to Compete with Amazon