Walmart Heads to Israel

Friday, March 29, 2019 |  David Lazarus

The head of Walmart was in Israel this week, according to a report on the Israeli business site CTech to discuss the retail giant’s investments in the Jewish state. Walmart CEO Doug McMillion, together with a group of senior company representatives, met with Israeli government officials and visited local hi-tech startup companies.

Last month, Walmart bought Aspectiva, a Tel Aviv-based startup that uses artificial intelligence to analyze and process huge amounts of online data from consumer product interests into personalized recommendations for purchasers.

Walmart’s first venture into the world of innovative Israeli startups came last October, when the US-based superstore chain announced a partnership with Eko, a fascinating new Israeli-made interactive multimedia experience that provides the viewer access into how the story of a movie will unfold. According to the CTech report, Walmart plans to invest $300 million into the pioneering Israeli project.

Israeli business newspaper Calcalist reports that Walmart is showing serious interest in opening an Israel branch of the retail giant’s chain store in the near future. The company continues to be on the lookout for groundbreaking Israeli software startups as the multinational conglomerate moves towards becoming a major player in the e-commerce market still dominated by US-based Amazon and China’s Alibaba.

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