Ed Cotton: Walmart Makes A Social Commerce Bet
No one is quite sure how social commerce will pan out, but if you are Wal-Mart, the world's largest retailer, it's worth a $300 million "punt" to find out.
No one is quite sure how social commerce will pan out, but if you are Wal-Mart, the world’s largest retailer, it’s worth a $300 million “punt” to find out. Today, the giant announced the acquisition of the Silicon Valley based Kosmix.
What are they buying?
A quick read of Kosmix’s blog post for today provides some insight.
“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 Genome enables us to take search, personalization and recommendations to the next level…