Posts Tagged ‘Kosmix’

Semantic Tech Checks In As The Holiday Shopping Begins

 

Photo credit: FlickR/crd!

 

With Thanksgiving Day, Black Friday and Small Business Saturday behind us, and Cyber-Monday right in front of us, it is clear the holiday season is in full force. Apparently, retailers – both online and real-world – are doing pretty well as a group when it comes to sales racked up.

Reports have it that e-commerce topped the $1 billion mark for Black Friday in the U.S. for the first time this year, with Amazon, Walmart, Best Buy, Target and Apple taking honors as the most visited online stores, according to ComScore. Consumers spent $11.2 billion at stores across the U.S. on Black Friday, said ShopperTrak, down from last year but probably impacted by more people heading out to more stores for deals that began on Thursday night. The National Retail Federation put total spending over the four-day weekend at a record $59.1 billion, up 13 percent from $52.4 billion last year.

Not surprisingly, semantic technology wants in on the shopping action. Social intelligence vendor NetBase, for instance, just launched a new online tool that analyzes the web for mentions of the 10 top retailers to show the mood of shoppers flocking to those sources. The Mood Meter, which media outlets and others can embed in their sites, ranks the 10 brands based on sentiment unearthed with the help of its natural language processing technology.  Read more

Walmart Launches Internally-Built Search Engine, Polaris

Ryan Kim of GigaOM reports that Walmart has built its own search engine called Polaris. He writes, “Walmart is deploying a new internally-built search engine to power Walmart.com and ultimately increase sales conversions from searches. The Polaris search engine, developed by @WalmartLabs over the last 10 months, has been in use for the last few months onWalmart.com and has already boosted conversions to sales by 10-15 percent, the company said.” Read more

Walmart Pushes for Greater Online Sales through Social Genome Technology

A recent article reports, “In April, Walmart dropped $300 million on social media startup Kosmix to compete against Amazon with @WalmartLabs. Specifically, the retailer was targeting Anand Rajaraman, 38, and Venky Harinarayan, 44, who founded Kosmix, the creator of TweetBeat. The Stanford grads also founded Junglee, an e-commerce company that Amazon bought back in 1998 for more than $250 million (where they then worked for two years, building its marketplace division).” Read more

Walmart Buys Kosmix for $300M

According to a recent article, “Wal-Mart Stores paid just over $300 million in cash for Kosmix. The six-year-old Mountain View, Calif.-based company–which has built a social media platform that organizes content by topic–has raised $55 million from a large group of Silicon Valley venture firms… Kosmix will join the newly formed @WalmartLabs.” Read more