Walmart agrees to buy social analyser Kosmix

Kosmix’s technology scans social media sites to create user profiles based on people’s preferences, which in turn allows the firm to create product recommendations.

Co-founder Anand Rajaraman said: “As we worked on the Social Genome platform, it became apparent to us that this platform could transform ecommerce by providing an unprecedented level of understanding about customers and products, going well beyond purchase data.”

The social media agency will operate as part of the @WalmartLabs team, which is dedicated to creating new technologies and business strategies within the social media and mobile spheres.

Eduardo Castro-Wright (pictured), the retailer’s vice chairman, said: “Social networks and mobile applications are increasingly becoming a part of our customer’s day-to-day lives globally, influencing how they think about shopping, both online and in retail stores. We are excited to have the Kosmix team join us to accelerate the development of our social and mobile commerce offerings.”