A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
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.
@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 Wal-Mart in the three years since it launched @WalmartLabs—and the fourth in 2014.
Established in 2011, 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. Nathan Stoll, the company’s CEO and co-founder, will also join @WalmartLabs. Stoll previously worked at Google Inc. and founded the search engine Aardvark.
“We’re excited to have this super-talented team bring their knowledge and experience to help us redefine the shopping experience of the future,” @WalmartLabs writes in a blog post.
Wal-Mart did not release the terms of the sale.
Wal-Mart’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.