• All Things D, Tuesday, April 19, 2011 12:34 PM

On Monday, when Wal-Mart announced the acquisition of search technology firm Kosmix, financial terms were not disclosed. Now, citing sources, BoomTown's Kara Swisher is reporting that the deal set Wal-Mart back about $300 million. "Wal-Mart did not disclose terms of the deal, which is focused on building out its social and mobile e-commerce offerings," writes Swisher. "The price for Kosmix is a pricey one to do so, but traditional retailers need to jump into the digital market now dominated by app-happy, smartphone-wielding customers."

Prior to Wal-Mart's move, Kosmix had raised more than $55 million from the likes of Time Warner and Jeff Bezos. Long billed as a health-focused vertical search firm, Kosmix has more recently developed a social media technology platform that filters and organizes content across various social networks. Other investors have included Accel Partners, Lightspeed Venture Partners, and DAG Ventures, along with angel investors, including Jon Miller and Ed Zander.

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