The Rent the Runway co-founder Jenny Fleiss left that fashion-tech start-up last year to launch another company, Code Eight, a subsidiary of Walmart.
"I think there's so much exciting stuff happening in the world of Walmart right now," said Fleiss in an interview Tuesday on Cheddar. "The personalized shopping space I think is one of the next big trends that you will see, and it needs to happen in e-commerce."
Code Eight uses artificial intelligence and machine learning to create a highly personalized online shopping experience that will hopefully mimic the traditional relationship between customer and salesperson, optimized for a digital world. Fleiss said that Code Eight uses Walmart's data to build its own retail platform.
Walmart also announced a redesign of its own website on Tuesday. The new Walmart.com will aim to create a more personalized shopping experience like the one Fleiss described. The homepage will highlight top-selling items in stores near the customer. The new site is scheduled to be live in May.
For full interview, [click here](https://cheddar.com/videos/how-rent-the-runway-inspires-the-next-generation-of-female-founders).
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Magnate Rupert Murdoch's surprise announcement Thursday that he's stepping down as leader of his two companies leaves his son Lachlan firmly in line of succession at Fox and the rest of the media empire.
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The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signaled that they expect to raise rates once more this year.
