Memomi Labs
AI-powered Shopping Experience
Company Overview
Snapshot
Founded in January 2016 by Salvaador Nissi Vilcovsky and Ofer Saban, Memomi Labs operates with 1–10 employees. The company was acquired by Walmart in June 2022, marking a significant exit in the retail technology space.
Business overview
Memomi Labs Inc. develops an augmented reality and artificial intelligence platform, the Memory Mirror, designed to enhance the shopping experience. This technology allows customers to virtually try on products and receive personalized recommendations based on their profile, style, and preferences. Utilizing a physics and pixel-based algorithm, Memomi delivers a realistic augmented reality experience across various platforms, including web, iOS, and Android, for both in-store and online applications. The company operates within the Business Software sector, focusing on e-Commerce Tools and serving the Commerce & Retail and Consumer Goods markets in geomarkets such as the United States, France, and Japan.
Strategic signal
Walmart's acquisition of Memomi Labs in June 2022 highlights the growing strategic importance of augmented reality and AI in enhancing the retail customer experience. This move by a major retailer like Walmart signals a strong market validation for virtual try-on technologies, indicating a shift towards more immersive and personalized online and in-store shopping environments. For investors, it underscores the potential for AI-powered solutions to drive innovation and competitive advantage in the retail sector.
Log in to access full profile ›Company Intelligence Q&A
- What is Memomi Labs' core product?
- Memomi Labs' core product is the Memory Mirror, an augmented reality and artificial intelligence platform that enables customers to virtually try on products and receive recommendations based on their profile, style, and preferences.
- When was Memomi Labs founded and by whom?
- Memomi Labs was founded in January 2016 by Salvaador Nissi Vilcovsky and Ofer Saban.
- Which company acquired Memomi Labs?
- Memomi Labs was acquired by Walmart in June 2022.
- What markets does Memomi Labs serve?
- Memomi Labs serves geomarkets including the United States, France, and Japan, focusing on the Commerce & Retail and Consumer Goods sectors.
- What technology underpins Memomi Labs' offerings?
- Memomi Labs utilizes augmented reality and artificial intelligence, specifically computer vision and deep learning, to provide its virtual try-on and recommendation services.