Luvocracy's website today. The firm is being purchased by @WalmartLabs.
@WalmartLabs, part of Wal-Mart Stores Inc.'s social media division, has acquired another shopping app, Luvocracy.
Re/Code reports that the 16 of the 20-person staff will join @WalmartLabs, which is shutting down the service:
Luvocracy was one of a host of startups attempting to make online shopping a more social experience. Prospective shoppers visited the app to browse through images of products uploaded by other individuals. Luvocracy’s team scoured the web to find the best available price for each product, which shoppers could then order directly through the Luvocracy app.
Wal-Mart hasn't disclosed terms of the deal. Founded in 2011, Luvocracy has since been surpassed by Pinterest, another social shopping platform. Still, Luvocracy managed to raise about $11 million in investment from entities including Kleiner Perkins, Google Ventures and Yahoo! CEO Marissa Mayer, according to TechCrunch.
- TV News People: Don't Mess with Drew Carey on Twitter
- FedEx Schedules Groundbreaking for Southwest Little Rock Site
- Inauguration Day in Arkansas
- Proposal Filed To End Arkansas' Private Option Compromise Medicaid Plan 1 day ago
- Moses Tucker Real Estate Looks to Next Generation, Plans for Future 2 days ago
- Ross Cranford on the Current 'Revolutionary' Climate in Advertising & Marketing 2 days ago
- Good Luck With That (Gwen Moritz Editor's Note) 2 days ago
- Magellan Pipeline Seeks Eminent Domain on Slice of Property 2 days ago