Walmart Nabs Social Shopping Startup, Then Promptly Shuts It Down

Walmart Labs, the retail giant’s eCommerce and R&D operation, has announced the acquisition of Luvocracy—a social shopping application that essentially allows users to both check out what their friends, loved ones and enemies (insofar as one has friended their enemies on social media) are buying and purchase it for themselves.

Ben Galbraith, Walmart.com’s global products vice president, referred to Luvocracy senior management as “what an amazing bunch. I’m so delighted to have them join us, and now we’ll be working together to create more of these fantastic moments when customers find delightful products at great prices.”

Luvocracy was rumored to be struggling with liquidity as it attempted to break in to the increasingly crowded world of social media originated commerce, reported Venture Beat. The company’s last funding round took in $11.5 million, but the company has recently been pushed to slim its staff and shuffle positions.

All 16 of Luvocracy’s full-time employees will now be absorbed into Walmart Labs.

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