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.”

Anand Rajaraman, CEO of Kosmix and past SemTech speaker, commented on the acquisition in his blog: “At Kosmix, we’ve been building a platform, called the Social Genome, to organize this data deluge by adding a layer of semantic understanding. Conversations in social media revolve around ‘social elements’ such as people, places, topics, products, and events… By analyzing the huge volume of data produced every day on social media, the Social Genome builds rich profiles of users, topics, products, places, and events.”

He continues, “Quite a few of us at Kosmix have backgrounds in ecommerce, having worked at companies such as Amazon.com and eBay… The Social Genome enables us to take search, personalization and recommendations to the next level. That’s why we were so excited when Walmart invited us to share with them our vision for the future of retailing. Walmart is the world’s largest retailer, with 10.5 billion customer visits every year to their stores and 1.5 billion online – 1 in 10 customers around the world shop Walmart online, and that proportion is growing. More and more visitors to the retail stores are armed with powerful mobile phones, which they use both to discover products and to connect with their friends and with the world. It was very soon apparent that the Walmart leadership shared our vision and our enthusiasm.”