Wal-Mart Stores announced that it will acquire Kosmix, a company that developed a social media technology platform to filter and organize content in social networks and connect people with real-time information. The move highlights commitment to social and mobile commerce.
The Kosmix team will operate as part of the newly-formed @WalmartLabs and continue to be based in Silicon Valley. Walmart plans to expand the @WalmartLabs team, which will create technologies and businesses around social and mobile commerce that will support Walmart's global multi-channel strategy to integrate the shopping experience between bricks and mortar stores and e-commerce.
Kosmix's platform searches and analyzes connections in real-time data streams to deliver highly personalized insights to users. The platform currently powers TweetBeat, Kosmix.com and RightHealth.
"We are expanding our capabilities in today's rapidly growing social commerce environment," says 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."
The company anticipates the transaction will close during the first half of this year.