Wal-Mart Names CEO for its Startup Investment Arm

Wal-Mart said its recently launched startup investment arm, Store No. 8, has hired Jenny Fleiss as the chief executive of its first portfolio company. Fleiss will run code eight, a startup that will develop personalized, one-to-one shopping experiences. Fleiss is the co-founder and former head of business development of Rent the Runway, a designer fashion rental company.

Store No. 8, launched in March to expand Wal-Mart's e-commerce business, plans to work with digital technology startups.