WMT: Walmart Snaps Up Stylr App

Terms of the deal were undisclosed

   

WMT: Walmart Snaps Up Stylr App

Walmart (WMT), announced on Monday, that it has picked up Stylr, an app that allows users to search nearby stores for clothes.

Walmart185 WMT: Walmart Snaps Up Stylr App This s the first time that Walmart has ever acquire a company that comes from New York’s Silicone Alley. The company claims that over half of its customers have used smartphones in its stores to assist them and that Stylr will become a part of that.

Stylr was developed by Eytan Daniyalzade and Berk Atikoglu. Both of these developers are alumni from Stanford. Their Stylr app was funded by Dreamit Ventures.

Walmart will remove the Stylr app from app stores later this month. The company won’t be using the app in its own mobile app, but it plans to use the technology in future projects.

Terms of the deal for Walmart acquire Stylr were not disclosed.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/wmt-walmart-stylr/.

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