Walmart has signed a definitive agreement to acquire social media company Kosmix, which provides technology to filter and organize content on social network sites.The company’s platform analyses user data, search history and connections between contacts to streamline content so that it delivers more personalized streams of insights. The Kosmix platform is currently being used to power TweatBeat, RightHealth and Kosmix’s own site, which lets users search social content by topic.
The Kosmix team will be integrated with the retailer’s recently formed @WalmartLabs division in Silicon Valley, which is working on mobile commerce and social media strategies to support Walmart’s multi-channel aims.
”We are expanding our capabilities in today's rapidly growing social commerce environment," said Eduardo Castro-Wright, Walmart's Vice Chairman. He continued: "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."
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