Walmart, the world’s largest retailer, has announced that they’ve entered into a definitive agreement to acquire Mountain View, CA based Kosmix. Kosmix is a social media company that has developed a technology platform that filters and organizes content in social networks to connect people to content that is relative to them.
Walmart has said that this acquisition is part of their new “Walmart Labs” which is developing ways for Walmart to expand their social media and mobile presence.
More after the break
“The world of social media is exploding and for millions of consumers their social connections matter hugely in their daily lives,” said Anand Rajaraman, co-founder of Kosmix. “Our work has focused on developing a social genome platform that captures the connections between people, places, topics, products and events as expressed through social media –be it a feed, a tweet or a post. We are thrilled to join one of the world’s largest companies and combine our work with Walmart’s vast online and offline retail businesses.”
“We are expanding our capabilities in today’s rapidly growing social commerce environment,” said Eduardo Castro-Wright, Walmart’s vice chairman. “Social networking and mobile applications are increasingly becoming a part of our customers’ day-to-day lives globally, influencing how they think about shopping, both online and in retail stores. We are excited to have the Kosmix team join us to accelerate the development of our social and mobile commerce offerings”
It’s unclear what Walmart plans to do with all this social media.