Alibaba is an e-commerce supplier directory for international buyers, either retailers or wholesalers. The Chinese e-commerce giant was started by Jack Ma and with a group of 18 employees in October 1999. The three main sites of Alibaba are Taobao, Tmall, and Alibaba.com. For many Alibaba is more like the Chinese version of Amazon. With more than a million users and a pack of merchants and businesses, Alibaba manages more business than any other firm.
Recently, Alibaba acquired Infinity Augmented Reality, an Israeli startup. Both companies announced this deal and the terms were disclosed. Both the firms have a strategic partnership since 2016, after the deal, Alibaba paid $10 million. Founded in 2013, Augmented AR is a startup for augmented glasses and enables a wide range of products including retail, medical, gaming and etc. Started by
Alibaba’s sortie into virtual reality started in 2016, when it invested in Magic Leap, an American start-up operates on retinal display, called Magic leap One, and soon announced a new research lab in China for introducing new technologies and developing ways of incorporating virtual reality into in digital marketing platform.
Infinity AR’s CEO Motti Kushnir said, “Alibaba is very curious in our product because it is a free dais, and it feels that it will soon be a milestone in the shopping and gaming sectors in the near future. There are specialists who claim that the whole cellular section will sustain a revolution and some of it will even become redundant with the ingress of the augmented reality revolution.”
Infinity AR’s research and development staff will undertake working out of Alibaba’s Israel Machine Laboratory, a section of Alibaba’s DAMO academy, the R&D enterprise into which it is pushing $15 billion with the target of ultimately serving 2 billion users and creating 100 million job opportunities by 2036. DAMO Academy associates with world renounced universities such as Alibaba’s Israel Machines Laboratory is associated with Tel Aviv University and focuses on video examination and machine learning.
The Laboratory Lihi Zelnik Manor released a statement stating, “Alibaba is glad to be working with Infinity AR as one group after three years of statistical partnership. The skilled team of bringing unique know-how in sensor fusion, navigation advances, and computer vision. We look forward to delving into these topping technologies and providing added benefits to users, partners, and developer.”
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