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Walmart To Buy Social Media Firm Kosmix

(NEW YORK) – Wal-Mart Stores Inc said on Monday it agreed to buy social media company Kosmix for an undisclosed sum, as the world’s largest retailer aims to win over more tech-savvy shoppers.Wal-Mart said Kosmix’s founders and team will oper…

(NEW YORK) – Wal-Mart Stores Inc said on Monday it agreed to buy social media company Kosmix for an undisclosed sum, as the world’s largest retailer aims to win over more tech-savvy shoppers.

Wal-Mart said Kosmix’s founders and team will operate as part of a newly formed group called @WalmartLabs that will create technologies and businesses around shopping online or with smart phones.

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