Table of Contents
BRISBANE, Calif. — Walmart has agreed to acquire Kosmix, a social media company focused on e-commerce.
Terms of the deal for the Mountain View, Calif.-based start-up were not disclosed.
Walmart has agreed to acquire Kosmix, a social media company focused on e-commerce.
Terms of the deal for the Mountain View, Calif.-based start-up were not disclosed.
"We are expanding our capabilities in today’s rapidly growing social commerce environment," Walmart vice chairman Eduardo Castro-Wright says. "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."
Kosmix was founded by Venky Harinarayan and Anand Rajaraman, early pioneers of online shopping, whose first company, Junglee, was acquired by Amazon.com in 1998.
The company’s technology platform searches and analyzes connections in real-time data streams to deliver highly personalized insights to users.
Kosmix will operate as part of the newly formed @WalmartLabs and continue to be based in Silicon Valley.
