Walmart moves to social media

Wal-Mart said yesterday it had agreed to buy social media company Kosmix for an undisclosed sum, as the world’s largest retailer aims to win over more tech-savvy US 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.