Walmart has shut down Insperience, the Los Angeles-based VR startup formerly known as Spatialand. The retail giant acquired Spatialand in early 2018, and operated it as a subsidiary out of its Store No. 8 incubator. A Walmart spokesperson confirmed the closure, but did not comment on any layoffs.
“After nearly three years of successfully testing, learning and building, we’ve decided it’s not the right time to continue to invest in Insperience, our v-commerce startup inside Store No8,” a Walmart spokesperson said via email. “What we have learned about virtual reality, [its] applications in retail, and the current opportunity for VR-enabled commerce has been invaluable. We will continue to explore opportunities within mixed reality, among other areas, while keeping the Walmart customer at the center of our explorations.”
Spatialand was hired by Walmart in 2017 to produce a VR showcase for Store No. 8’s Innovate conference. In February 2018, the retail giant acquired Spatialand to explore VR shopping solutions. In early 2020, the startup rebranded as Insperience, promising to forge “deep relationships between brands and consumers through immersive, personalized shopping experiences,” according to its now-defunct website.
Source: Protocol
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