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Walmart Labs buys Luvocracy social recommendation site
San Bruno, Calif. – WalmartLabs, the division of Wal-Mart’s e-commerce operation dedicated to developing new technology, has purchased Luvocracy, an online community that helps consumers find products recommended by family members, friends and online influencers. Founded three years ago, Luvocracy was one of the first companies to enable the entire social shopping experience, from discovery to commerce, to occur within its app.
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Martha Stewart Living swings to profit in Q2
New York – Martha Stewart Living Omnimedia (MSLO) reported net income of $2.24 million in the second quarter of fiscal 2014, a turnaround from a net loss of $636,000 in the second quarter of the previous fiscal year. Revenues fell 11% to $37.6 million from $42.2 million, due to lower print and merchandising revenue partially offset by higher digital advertising revenue.