Walmart's Store No 8 innovation hub acquires VR platform, Spatialand [MarketWatch]
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Source: MarketWatch
Walmart's Store No 8 innovation hub acquires VR platform, Spatialand Walmart Inc.'s WMT, -1.05% innovation hub, Store No 8, has acquired Spatialand, a VR platform and content studio, that will be the foundation of the group's latest venture. Kim Cooper and Jeremy Welt, two "VR experts with deep roots in the entertainment industry," will lead the new venture, according to a post on the Store No 8 blog written by its principal, Katie Finnegan. Cooper has worked on films including "Prometheus" and "Iron Man"; Welt helped launched YouTube's first commercial deal with Walt Disney Co. DIS, -1.47% Finnegan will serve as interim CEO for the group. "The team 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," Finnegan wrote. Walmart shares are down nearly 2% in Tuesday premarket trading, but up nearly 51% for the past year. The Dow Jones Industrial Average DJIA, -0.08% is up
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