Infinite Reality Acquires Virtual Shopping Platform Obsess to Enhance Immersive E-commerce Solutions

Infinite Reality will acquire virtual shopping platform Obsess

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Infinite Reality, an "immersive technology" company blending digital media and ecommerce through extended reality -- previously known as the metaverse -- has acquired virtual shopping firm Obsess. Infinite Reality said it has a definitive agreement to acquire Obsess, a premier virtual platform that has launched over 400 highly visual, discovery-driven 3D digital stores and experiences. Terms were not disclosed. This acquisition comes on the heels of Infinite Reality's $3 billion in fundraising announced earlier this month, and marks the first acquisition since the substantial raise in capital. That deal made people wonder if the metaverse might not be dead after all. Through this acquisition, Infinite Reality will integrate Obsess's advanced technology and cross-platform distribution capabilities into its product portfolio, expanding iR's e-commerce solutions. The addition of Obsess's proprietary technology suite, solid leadership team, and impressive roster of global brand and retail clients accelerates iR's aims to uplevel digital experiences, including ecommerce, through XR and AI, further positioning the company to capture a larger share of the rapidly growing global immersive technology market. Founded in 2017 by CEO Neha Singh, Obsess quickly established itself as a market leader in immersive commerce technology. The company's proprietary platform has transformed digital retail across multiple sectors, including beauty, fashion, food and beverage, and media and entertainment, powering hundreds of sophisticated 3D storefronts for global brands such as Ralph Lauren, L'Oréal, Crate & Barrel, e.l.f. Cosmetics, J.Crew and Disney Music Group. Singh, who brings deep expertise as both a former Google software engineer and the previous head of product for Vogue, has successfully launched and scaled multiple web and mobile products reaching millions of users, driving significant audience and revenue growth. She joins Infinite Reality as Chief Innovation Officer, and will continue to develop new products that reimagine how brands interact with consumers online. "Obsess's stellar track record of building successful 3D virtual stores for major brands is a testament to the incredible opportunity ahead," said John Acunto, cofounder and CEO of Infinite Reality, in a statement. "Neha and her brilliant team share our vision to upgrade the ancient 2D web grid to improve ecommerce KPIs for our clients, and delight their customers with more engaging, dynamic, and personalized experiences." Infinite Reality's vision of enabling accessible, device-agnostic immersive experiences aligns perfectly with Obsess's demonstrated ability to deploy brand projects across multiple platforms - from web browsers to games such as Roblox to next-generation devices like the Apple Vision Pro and Meta Quest. And through its proprietary CMS with advanced 3D editing and rendering technology, Obsess brings powerful branded interactive stores to life. These capabilities, combined with iR Studio, Infinite Reality's low-code and no-code SaaS solution, and Infinite Reality Enterprise, iR's end-to-end immersive services agency, lay a strong foundation to outfit brands and creators with intuitive tools to build, monetize, and effectively measure immersive experiences, all while owning all their data. "Obsess was founded on the belief that it was time to reinvent the outdated e-commerce experience," said Neha Singh, founder and CEO of Obsess, in a statement. "We have built a platform that creates the next generation consumer interface with visually dynamic and interactive experiences that are highly engaging and feel alive. As a part of Infinite Reality, we are doubling down on our mission to supercharge consumer engagement with immersive brand storytelling." "Our aggressive growth strategy is laser-focused on leading the future of immersive technology with the most powerful and complete platform for software, content, and services. Bringing Obsess and Neha's incredible team onboard supercharges our trajectory," said Amish Shah, cofounder and Chief Business Officer of Infinite Reality, in a statement. "With their visionary talent joining the iR family, we are not just changing the game - we are creating an entirely new playbook for what's possible in this space." Obsess marks Infinite Reality's first acquisition of 2025, building on the company's momentum following multiple strategic acquisitions in 2024 totaling approximately $800 million. Obsess will maintain operations in New York, further strengthening iR's presence in a key market while expanding the company's growing suite of AI and immersive technology solutions for clients worldwide. Obsess adds about 52 people to Infinite Reality, which now has 319 people. Recently, Infinite Reality signed a five-year deal with Google Cloud to host immersive digital experiences using AI and spatial computing. Infinite Reality also paid $450 million for Dubai-based Landvault (now iR Enterprise) which has built over 1.2 million square feet of virtual experiences for countless high-profile brands including Mastercard, Standard Chartered, Hershey, a Cannes Lion-winning Heineken campaign with Dentsu, groundbreaking activations with Hershey in Decentraland, and the innovative World of Women experience in The Sandbox. It also closed multiple acquisitions, including the $250 million acquisition of the Drone Racing League, the $75 million purchase of Ethereal Engine, Action Face, and Stakes. These deals strengthened iR's capabilities in computer vision and spatial web technology, gaming, robotics, and more. And it continued work with Warner Bros. Discovery Sports, including the launch of the FIM SGP-VERSE app, the world's first socially interactive and fully immersive speedway experience with features such as customizable camera streams, an exclusive pit reporter feed and on-demand video content. Infinite Reality continues to work with Pairpoint, a Vodafone and Sumitomo Company. Their work was on full display in Dubai at GITEX Global 2024, the world's largest tech and startup event.

Infinite Reality Enters into Definitive Agreement to Acquire Virtual Shopping Platform Obsess

Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter NEW YORK, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Infinite Reality (iR)™, an innovation company powering the next generation of digital media and ecommerce through extended reality (XR), artificial intelligence (AI), and other immersive technologies, today announced it has entered into a definitive agreement to acquire Obsess, a premier virtual platform that has launched over 400 highly visual, discovery-driven 3D digital stores and experiences. This acquisition comes on the heels of iR's $3 billion in fundraising announced earlier this month, and marks the first acquisition since the substantial raise in capital. Through this acquisition, Infinite Reality will integrate Obsess's advanced technology and cross-platform distribution capabilities into its product portfolio, expanding iR's ecommerce solutions. The addition of Obsess's proprietary technology suite, solid leadership team, and impressive roster of global brand and retail clients accelerates iR's aims to uplevel digital experiences, including ecommerce, through XR and AI, further positioning the company to capture a larger share of the rapidly growing global immersive technology market. Founded in 2017 by CEO Neha Singh, Obsess quickly established itself as a market leader in immersive commerce technology. The company's proprietary platform has transformed digital retail across multiple sectors, including beauty, fashion, food and beverage, and media and entertainment, powering hundreds of sophisticated 3D storefronts for global brands such as Ralph Lauren, L'Oréal, Crate & Barrel, e.l.f. Cosmetics, J.Crew and Disney Music Group. Singh, who brings deep expertise as both a former Google software engineer and the previous Head of Product for Vogue, has successfully launched and scaled multiple web and mobile products reaching millions of users, driving significant audience and revenue growth. She joins Infinite Reality as Chief Innovation Officer, and will continue to develop new products that reimagine how brands interact with consumers online. "Obsess's stellar track record of building successful 3D virtual stores for major brands is a testament to the incredible opportunity ahead," said John Acunto, co-founder and CEO of Infinite Reality. "Neha and her brilliant team share our vision to upgrade the ancient 2D web grid to improve ecommerce KPIs for our clients, and delight their customers with more engaging, dynamic, and personalized experiences." Infinite Reality's vision of enabling accessible, device-agnostic immersive experiences aligns perfectly with Obsess's demonstrated ability to deploy brand projects across multiple platforms - from web browsers to games such as Roblox to next-generation devices like the Apple Vision Pro and Meta Quest. And through its proprietary CMS with advanced 3D editing and rendering technology, Obsess brings powerful branded interactive stores to life. These capabilities, combined with iR Studio, Infinite Reality's low-code and no-code SaaS solution, and iR Enterprise, iR's end-to-end immersive services agency, lay a strong foundation to outfit brands and creators with intuitive tools to build, monetize, and effectively measure immersive experiences, all while owning all their data. "Obsess was founded on the belief that it was time to reinvent the outdated ecommerce experience," said Neha Singh, Founder and CEO of Obsess. "We have built a platform that creates the next generation consumer interface with visually dynamic and interactive experiences that are highly engaging and feel alive. As a part of Infinite Reality, we are doubling down on our mission to supercharge consumer engagement with immersive brand storytelling." "Our aggressive growth strategy is laser-focused on leading the future of immersive technology with the most powerful and complete platform for software, content, and services. Bringing Obsess and Neha's incredible team onboard supercharges our trajectory," said Amish Shah, co-founder and Chief Business Officer of Infinite Reality. "With their visionary talent joining the iR family, we are not just changing the game - we are creating an entirely new playbook for what's possible in this space." Obsess marks Infinite Reality's first acquisition of 2025, building on the company's momentum following multiple strategic acquisitions in 2024 totaling approximately $800 million. Obsess will maintain operations in New York, further strengthening iR's presence in a key market while expanding the company's growing suite of AI and immersive technology solutions for clients worldwide. About Infinite Reality Infinite Reality (iR)™ is an innovation company powering the next generation of digital media and ecommerce through spatial computing, artificial intelligence (AI), and other immersive technologies. iR's suite of cutting-edge software, production, marketing services, and other capabilities empower brands and creators to craft inventive digital experiences that uplevel audience engagement, data ownership, monetization, and brand health metrics. The company is backed by an impressive roster of investors including RSE Ventures, Liberty Media, Lux Capital, Lerer Hippeau, MGM, CAA, T-Mobile Ventures, Courtside VC, Exor, Terracap, IAC, Live Nation, as well as notable individuals such as Steve Aoki, Imagine Dragons, NBA player Rudy Gobert, and globally-ranked tennis player Taylor Fritz. For more information, visit theinfinitereality.com. About Obsess Obsess is the leading immersive shopping platform that enables brands and retailers to create fully branded, discovery-driven 3D ecommerce experiences on their websites and on gaming platforms. The company has launched over 400 immersive experiences for global brands across the fashion, beauty, luxury, home, retail, CPG, grocery and media categories. Obsess is creating the next-generation online shopping interface. The company is headquartered in New York City, with additional offices across the U.S. and Europe. For more information, please visit ObsessAR.com or email [email protected]. Contact [email protected] A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba93a31e-8399-4e0e-9862-dfa42f45f64a Market News and Data brought to you by Benzinga APIs