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March 28, 2019 12:35 pm

Walmart CEO Visits Israel With Delegation, Meets With Local Startups

avatar by Meir Orbach / CTech

A Walmart store in Laredo, Texas. Photo: Jared C. Benedict.

CTech – Walmart CEO Doug McMillon arrived in Israel earlier this week for a visit accompanied by a delegation of senior company officials, according to several people familiar with the matter. During the visit, company executives met with Israeli officials and local startups, these people said.

Walmart has yet to respond to Calcalist’s request for comment.

In October, Walmart announced it had partnered with Israeli-founded interactive multimedia video creation and distribution company Eko to launch a joint original interactive content venture. The companies did not disclose financial details for the deal, but Walmart stated it has agreed to participate in the next funding round raised by Eko. Calcalist reported Walmart plans to invest $300 million in the joint venture.

The American retailer is also one of the backers of a new fund by Israeli cybersecurity foundry Team8, announced in October.

In February, Walmart announced it has acquired Tel Aviv-based product review insight company Aspectiva. Aspectiva has joined Walmart’s incubation arm N° 8 following the acquisition.

In early 2018, Calcalist reported Walmart was sending representatives to Israel to look into the possibility of opening a branch in the country, as well as to look for cyber software solutions to support its plan of becoming a major e-commerce player.

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