Infinite Reality Strengthens Its Immersive Tech Dominance With Obsess Acquisition

Infinite Reality, a leader in immersive technology, has announced its acquisition of Obsess, a prominent player in immersive commerce. This strategic move aims to enhance Infinite Reality's capabilities in the rapidly growing immersive tech market, which is projected to reach nearly $1 trillion by 2030.

Key Takeaways

• Acquisition Details: Infinite Reality has acquired Obsess, a virtual platform specializing in immersive commerce technology.

• Financial Backing: The acquisition follows Infinite Reality's recent $3 billion funding round, raising its valuation to $12.25 billion.

• Leadership Changes: Obsess CEO Neha Singh will join Infinite Reality as Chief Innovation Officer.

• Technological Advancements: The integration aims to leverage AI to enhance virtual shopping experiences and streamline the creation of 3D environments.

Overview Of The Acquisition

Infinite Reality's acquisition of Obsess marks a significant step in the company's strategy to dominate the immersive technology landscape. The deal, whose financial terms remain undisclosed, comes on the heels of a substantial funding round that underscores the growing interest in immersive technologies.

John Acunto, co-founder and CEO of Infinite Reality, emphasized the potential of Obsess's technology, stating, "Obsess’s stellar track record of building successful 3D virtual stores for major brands is a testament to the incredible opportunity ahead."

The Role Of Obsess

Founded in 2017 by Neha Singh, Obsess has transformed digital retail by creating immersive shopping experiences for brands across various sectors, including beauty, fashion, and entertainment. The company has successfully launched over 400 virtual stores for notable clients such as Ralph Lauren and Disney Music Group.

Singh, who previously worked at Google and Vogue, expressed enthusiasm about the acquisition, stating, "Being acquired will help us continue our mission and really double down on being able to go after more brands and be able to develop our technology further."

Enhancing E-Commerce With AI

The integration of AI into Obsess's platform is expected to revolutionize the way brands engage with customers. By converting traditional 2D websites into immersive 3D environments, Obsess aims to optimize sales and enhance customer experiences.

• AI Capabilities: AI will significantly reduce the time required to launch virtual stores, with initial concepting time cut by half.

• Maintenance Efficiency: The use of AI will also streamline the maintenance of virtual stores, reducing the manual effort currently required.

The Future Of Immersive Experiences

Infinite Reality's vision aligns with Obsess's capabilities, focusing on creating accessible, device-agnostic immersive experiences. The partnership aims to eliminate barriers between brands and customers, providing valuable data insights that can enhance marketing strategies.

Acunto stated, "Together with Obsess, we intend to continue to build out our analytics suite and offer our customers powerful and differentiated data capabilities designed around our hyper-engaging immersive experiences."

Conclusion

The acquisition of Obsess by Infinite Reality is a strategic move that positions the company at the forefront of the immersive technology market. With a shared vision for innovation and a commitment to enhancing e-commerce experiences, the partnership is set to redefine how brands interact with consumers in the digital space. As the immersive tech market continues to expand, this acquisition could pave the way for new opportunities and advancements in the industry.

Sources

• Infinite Reality Acquires Obsess, Strengthening Its Position In The Immersive Tech Market, Forbes.