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Walmart Acquires Social and Media Platform, Kosmix

5:36 pm on Apr 18, 2011 (gmt 0)

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Walmart Acquires Social and Media Platform, Kosmix [emoney.allthingsd.com]
Wal-Mart is buying Kosmix, a Mountain View, Calif.-based company that has built a social media platform that organizes content by topic.

The company did not disclose terms of the agreement, but said the acquisition would be instrumental in building out both its social and mobile intiatives.

Kosmix will join the newly formed @WalmartLabs and continue to be based in Silicon Valley, the company said.

Walmart said the @WalmartLabs team will work on building out its social and mobile commerce strategy to link together its bricks and mortar stores with e-commerce. Today, Walmart operates physical stores in 15 countries and e-commerce businesses in nine countries.

8:30 pm on Apr 19, 2011 (gmt 0)

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I'm always shocked how much Walmart has lagged behind all of the major retailers in terms of a net presence. Maybe it's a sign of things changing though.