Wal-Mart Buys Social Media Platform Kosmix

Law360, New York (April 18, 2011, 5:58 PM EDT) -- Wal-Mart Stores Inc. is boosting its e-commerce capabilities with the acquisition of Kosmix Corp., a $55 million Silicon Valley startup that specializes in filtering social media content.

The Arkansas-based retail giant announced Monday that it signed an agreement to acquire Kosmix and incorporate the company into @WalmartLabs, a new Wal-Mart division tasked with developing social and mobile commerce technologies.

The companies did not disclose the value of the deal, saying only that the transaction was expected to close in the first half of 2011, according to...
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