Walmart picks up Kosmix social media platform

Summary:Now everyone is getting into the social networking game. Walmart announced on Monday that it has acquired Kosmix, a platform that organizes social media content with real-time information.

Now everyone is getting into the social networking game. Walmart announced on Monday that it has picked up Kosmix, a platform that organizes social media content with real-time information.

Terms of the acquisition haven't been revealed, but Walmart expects the deal to be closed by the end of the first half of 2011. Kosmix will be now known as "@WalmartLabs" and Kosmix employees will continue to be based in Mountain View, Calif.

Walmart doesn't seem like the most obvious buyer of a Silicon Valley start-up dedicated to filtering social media data. However, the mega-retailer asserts that it has a dedicated "commitment to social and mobile commerce."

Walmart hasn't specified in exact terms how the social media platform will be used, but maybe we'll see the technology behind TweetBeat and RightHealth used for online shopping on mobile devices (i.e. smartphones, tablets, etc.) and similar purposes.

Topics: Social Enterprise

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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