The tech and innovation arm of Walmart has added in its portfolio, the US based adtech company, as part of a talent acquisition deal. This is the 12th in series since started in 2011, three years back. The buyout was announced on Monday in a company blog by Jeremy King, CTO and SVP Global eCommerce at Walmart.com
Based in California, Adchemy was founded in 2004. The deal is a part of Walmart’s spree to improve its eCommerce capabilities in-house, in order to scale eCommerce to its 245 million weekly customers around the world.
Post acquisition, 60+ staff of Adchemy technologists will join Walmart. This includes Rohit Deep (VP, Engineering), Ethan Batraski (VP, Products) and Esteban Arcaute (Head of Research). However, the founder, Murthy Nukala will take the exit, as reported by TechCrunch‘s Sarah Perez.
The new team will add to company’s expertise in areas like semantic search, data analytics and marketing. The financial details remain undisclosed. Adchemy operations have already been seized as the link to the website is redirecting to @Walmart Labs blog.
Have a look at the acquisition series of @Walmart Labs:
Source: @Walmart Labs blog
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