February 26, 2019 / 7:41 AM / 23 days ago

Walmart buys Israeli product review insight firm Aspectiva

FILE PHOTO: Shoppers walk from a Walmart store in Mexico City, August 15, 2012. REUTERS/Edgard Garrido

TEL AVIV (Reuters) - Walmart said on Tuesday it has acquired Aspectiva, an Israeli start-up whose technology analyses consumers’ product reviews to help shoppers make decisions.

Financial details were not disclosed.

Aspectiva will join Walmart’s Store No 8, the incubation arm launched by the U.S. retailer in 2017 to find new commerce-related technologies.

Aspectiva has developed machine-learning techniques and natural language processing capabilities, “areas we believe will have profound impact on how customers will shop in the future,” Store No 8 principal Lori Flees said.

Walmart also has a strategic investment in Team8, an Israeli cybersecurity start-up incubator, and launched a joint venture with Eko, an interactive media and technology company with offices in Tel Aviv and New York.

Aspectiva was founded in 2013 and has raised $4 million, led by Jerusalem Venture Partners. Other investors include Japanese venture capital firm Global Brain, Finnish retailer Union Five and LivePerson.

Reporting by Tova Cohen; editing by Jason Neely

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