Walmart buys social media startup Kosmix for $300 million

Kosmix runs a social media platform that organizes content by topic. 

There's actually two big reasons for the acquisition, with the second one most important:

• Team. Kosmix was founded by the team that started Junglee, one of the first price comparison search engines, which was acquired by Amazon. The company will form the basis of a newly formed WalmartLabs division. So to work on innovative projects Walmart is getting entrepreneurs with a great track-record and knowledge of online commerce and social media, which makes tons of sense. But the biggest reason is...
  
• Social commerce is becoming a reality. People have been talking about "social commerce" since people have been talking about "social", but it's fast becoming a reality.