Alibaba acquires Israeli company Visualead for $50 million to strengthen VR/AR technology

According to foreign media reports, Alibaba has recently acquired Israeli start-up company Visualead and plans to establish an Israeli development center on the basis of this, with transaction value of approximately 30 million to 50 million US dollars.

According to VR network, Visualead (Visual Code) is an Israeli O2O and QR code technology startup company, which has a pioneering position in the field of visual QR code technology. The two sides signed a strategic cooperation agreement and Alibaba will use the "visual code" patents and technologies extensively to strengthen Ali's AR and VR technologies. This is also the first time Alibaba has invested in an Israeli startup.

The business giant has a long-standing relationship with Visualead, the first Israeli company to cooperate with it since 2013. Two years later, Alibaba invested approximately $7 million in Visualead. Visually developed a platform for creating stylized QR codes that can be integrated into pictures, animations, and videos. Visualead currently has 20 employees in the office in Herzliya and expects to employ an additional 40 employees once it becomes the Alibaba Development Center.

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