Retail giant Walmart has made a move into the social media market with the acquisition of US-based Kosmix.
Retail giant Walmart has made a move into the social media market with the acquisition of US-based Kosmix.
The owners of UK supermarket chain ASDA are the largest employers in the world. It plans to use the purchase to expand the company’s social commerce offerings. Financial details of the buy are undisclosed.
Founded in 1998, Kosmix provides a social media technology platform that filters and organises content in social networks to connect people with real-time information.
Eduardo Castro-Wright, vice chairman of Walmart, comments: ‘Social networking and mobile applications are increasingly becoming part of our customers’ day-to-day lives globally, influencing how they think about shopping, both online and in retail stores.’
The acquisition will support Walmart’s global multi-channel strategy, which integrates the shopping done in store and via the e-commerce route. The retailer operates its e-commerce business in nine of the fifteen countries in which it has a presence.
Co-founder of Kosmix, Anand Rajaraman, says that Kosmix technology has focused on developing a social genome platform that captures connections as expressed through social media.
