Walmart acquires AR tech company Memomi

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Walmart acquires AR tech company Memomi

Memomi uses cutting-edge technology to create virtual try-on experiences using artificial intelligence, deep learning, and augmented reality.

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2022-06-29 11:15

Walmart (NYSE: WMT) is acquiring Memomi, a company with augmented reality technology. Memomi has enabled digital measurements for Walmart and Sam’s Optical customers, currently serving 2,800 Walmart Vision Centers and 550 Sam’s Clubs. They also power the Optical eCommerce experience on SamsClub.com.
Walmart acquires AR tech company Memomi
Acquiring Memomi will help Walmart Health & Wellness improve engagement, health equity and outcomes by leveraging data and technology.

“We’re excited to welcome the Memomi team to Walmart and add their capabilities to our leading virtual reality technology that is transforming the retail experience for our customers and members,” said Cheryl Ainoa, Senior Vice President, New Businesses & Emerging Tech, Walmart Global Tech.

Walmart will have Memomi employees join the Walmart Global Tech organization. The acquisition is expected to close in the coming weeks. Terms of the deal were not disclosed.

Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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2022-06-29 11:15

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