Attempting to leverage what is recognized as the most influential audience on a buyer, Walmart has acquired Luvocracy, a company that helps consumers discover products recommended by family, friends and online influencers.
“Luvocracy provides an online community that helps consumers discover products recommended by family members, friends and online influencers. The 16-person Luvocracy team will join @WalmartLabs, the retail giant’s e-commerce development team based in Silicon Valley,” according to the article on Internet Retailer.
“WalmartLabs, the e-commerce research arm of Wal-Mart Stores Inc., has added to its e-commerce war chest today with the acquisition of product discovery technology company Luvocracy. It is the 14th technology acquisition for Walmart in the three years since it launched @WalmartLabs—and the fourth in 2014.”
The Internet Retailer article goes on to describe other acquisitions made by Walmart.
“Walmart’s purchase of Luvocracy follows its acquisition of Adchemy, a product search firm, in May of this year. WalmartLabs also purchased recipe discovery and meal-planning service Yumprint earlier this year. Wal-Mart bought four e-commerce technology companies in 2013, including web acceleration firm Torbit and predictive analytics firm Inkiru,” according to Internet Retailer.
I can’t wait to learn what my siblings want me to buy!
Overview by Tim Sloane, Vice-President, Payments Innovation
To read the full story, go to Internet Retailer.