Wal-Mart to buy social media firm Kosmix

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. "We are expanding our capabilities in today's rapidly growing social commerce environment," said Eduardo Castro-Wright, Walmart's vice chairman.