Walmart’s CEO Doug McMillion reportedly came to Israel with a group of other senior Walmart delegates to meet with Israeli officials and local startups.The visit comes on the heels of last month's acquisition by Walmart of Tel Aviv-based product review start-up Aspectiva for an undisclosed sum.
The company, Walmart’s first acquisition in Israel, joined Walmart’s “Store No. 8” incubation arm but will continue to operate from its Tel Aviv offices under the agreement.
Aspectiva, established in 2013 by Ezra Daya and Eyal Hurwitz, utilizes artificial intelligence and natural language processing technology to analyze large volumes of consumer opinions and turn data into valuable insights and informed recommendations for purchasers.
Last October, Walmart announced that it had formed a partnership with the Israeli interactive, multimedia video creation and distribution company Eko to launch a joint interactive content venture. The American conglomerate announced plans to invest $300 million in those efforts, according to the CTech report.
Israeli business media likewise reported last year that Walmart would be sending a delegation to the country with an eye for opening a local branch and to look for cyber software partners as the chain store moves toward becoming a major e-commerce player.