Wal-Mart acquiring social media firm to rev social e-commerce

Bentonville, Ark. -- Wal-Mart Stores said Monday it is acquiring Mountain View, Calif.-based social media company Kosmix to help strengthen its social and mobile commerce. Wal-Mart, which has not disclosed the terms of the transaction, said it is interested in a social media technology platform Kosmix has developed that filters and organizes content in social networks to connect people with information that may be of interest to them. "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," Walmart vice chairman