Memomi Labs

AI-powered Shopping Experience

Business Software
Acquired (Inactive) by Walmart on Jun 2022 - ceased to operate in israel

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 develops an augmented reality and artificial intelligence platform known as 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 AR experience across various platforms, including web, iOS, and Android, for both in-store and online applications. The company operates within the Business Software sector, specifically focusing on e-Commerce Tools and Sales & Marketing Solutions for the Commerce & Retail industry.

Strategic signal

Walmart's acquisition of Memomi Labs in June 2022 highlights the growing strategic importance of augmented reality and AI in transforming the retail sector. This move by a major retailer like Walmart signals a strong market validation for virtual try-on technologies, indicating a future where personalized, immersive shopping experiences are central to consumer engagement and e-commerce strategies.

Company Intelligence Q&A

When was Memomi Labs founded and by whom?
Memomi Labs was founded in January 2016 by co-founders Salvaador Nissi Vilcovsky and Ofer Saban.
Which major company acquired Memomi Labs?
Memomi Labs was acquired by Walmart in June 2022.
What is the primary application of Memomi Labs' technology?
The primary application of Memomi Labs' technology is to provide a realistic and personalized augmented reality experience for customers to virtually try products and receive style recommendations across various platforms, both in-store and online.
What industries does Memomi Labs serve?
Memomi Labs primarily serves the Commerce & Retail industry, providing e-commerce tools and sales & marketing solutions.

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