LaunchXR, a Creve Coeur-based startup that developed no-code tools for building 3D virtual stores, has sold its technology to an undisclosed private company for integration into a larger project, according to Jay Steinback, founder and CEO of yWhales, a Web3 community.
Jay Steinback, CEO yWhales
“They asked to be private,” Steinback told bizblip, explaining the confidential nature of the deal. The acquisition marks the end of LaunchXR’s independent operations, though Steinbeck noted he is now rebuilding parts of the concept using different tools for a separate project.
LaunchXR, founded in July 2023, created a spatial computing platform that allowed small and medium-sized businesses to build immersive virtual e-commerce stores without coding knowledge, similar to how Squarespace simplified website building. The company’s platform integrated artificial intelligence to help retailers transition from traditional 2D websites to 3D shopping experiences, positioning itself as a solution for the growing spatial commerce market projected to reach $210 billion by 2030. The startup operated from offices at 12395 Olive Boulevard in Creve Coeur and was led by CEO Brady Beaubien, who previously founded a Hollywood motion graphics company that worked on more than 150 films. Beaubien did not respond to requests for comment.
The company was raising $1 million through a SAFE note at 7% equity and had targeted revenue by the fourth quarter of 2024, but there is no word on if they achieved either goals. LaunchXR had been part of yWhales’ portfolio of technology ventures. Steinback was also CEO of FinRamp, a digital securities exchange leveraging blockchain, which he says was sold to private equity in late 2024.
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