Wal-Mart (NYSE:WMT) announced today it will be acquiring Kosmix, a social media company. Terms of the deal weren't disclosed.
In the press release Wal-Mart said concerning Kosmix, it has “developed a social media technology platform that filters and organizes content in social networks to connect people with real-time information that matters to them.”
The assumption is Wal-Mart will use the aggregating skills of Kosmix to offer content up by topic as it continues to navigate a social media strategy, under the new @WalmartLabs unit.
Kosmix's owners were also the founders of Junglee, which was acquired by Amazon.com (NASDAQ:AMZN) back in 1998.
Wal-Mart was trading at $53.31, falling $0.24, down $0.45 percent, as of 2:00 PM EDT.
Monday, April 18, 2011
Wal-Mart (WMT) Social Media Firm Kosmix
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment