Keepin’ It In the Family
CEO & Co-Founder Spatialand (acquired by Walmart) I Principal & Founder Store No 8
Just like our portfolio companies, we’re always evolving -- and there are some exciting changes going on at Store No. 8. Today, Marc Lore (President and CEO of Walmart U.S. eCommerce) announced that I will be taking on a new role serving as full-time CEO and Co-Founder of Spatialand, a company focused on the application of virtual reality in retail. It is the most recent acquisition in the Store No. 8 incubation portfolio. I will stay on with Store No. 8 as Principal to continue driving our brand and thought leadership efforts.
Although Store No. 8 was officially launched in March of 2017, the journey actually began right after Jet was acquired by Walmart in September 2016. The formation of Store No. 8, or as we called it then, “our strategy to incubate and right-size further out innovation efforts,” was one of the first strategic initiatives put forth under Marc Lore’s new leadership. The goal was to create an infrastructure and path forward that would allow our future portfolio companies to operate like startups, while also leveraging the unique benefits that come from being a part of the world’s largest retailer. In the 18-months we have been at it, our rock star team has laid an incredible foundation for our portfolio companies and has accomplished so much.
I was and continue to be passionate about the Store No. 8 mission, because I knew if we did it right, we could have a massive impact—not only on Walmart, but on retail as a whole. It's been an absolute privilege to work with such an amazing team who have the skills, passion, and leadership buy-in to continue the trajectory we started and redefine the future of retail. I couldn’t dream up a better horse to bet on!
I am an entrepreneur and a builder at heart -- and in practice. Now that the foundation has been laid and Store No. 8 is off to a strong start, doing the same for a portfolio company is a natural transition and exciting next step. Starting this week, Gormley (my 2 year old Cavalier) and I will spend most weekdays in LA. We’re looking forward to seeing Store No. 8 continue to thrive and grow, but also to getting all of you in a VR headset one day and redefining merchandising as we know it!