Wal-Mart tech incubator off and running

|By:, SA News Editor

Wal-Mart (WMT -0.5%hires a top exec for the first portfolio company from its tech incubator in Silicon Valley.

Jenny Fleiss will lead the Code 8 project as it looks to create "highly-personalized, one-to-one shopping experiences." Fleiss is the co-founder of Rent the Runway.

The Store No 8 tech incubator was unveiled last month by Wal-Mart to invest in businesses like a venture capitalist. The company also uses @WalmartLabs in San Francisco to research new retail concepts.