Wal-Mart pays full price for social media platform builder

Retail giant Wal-Mart has paid $US300 million to acquire a social media platform builder, as it looks to boost its social and mobile eCommerce offerings, All Things Digital reports.

According to the report, the price for Kosmix is considered a full one.

Kosmix, which has built a social media platform that organises content by topic, is six years old.

It recently raised $US55 million from a large group of Silivon Valley venture firms.