Wal-Mart unveils first social networking app

Bentonville, Ark. -- Wal-Mart Stores Inc. said Wednesday it has debuted a social networking application, calling it Shopycat.



The app uses Facebook data to recommend gifts to consumers, on the company's Facebook page. It is one of the first products to roll out of @Walmartlabs, a unit of the company charged with developing social-networking and mobile technologies for the retailer.



"Shopycat is the first step in what we think is a very strategic area for the industry as a whole," said Venky Harinarayan, senior VP of WalMart Global eCommerce and co-founder of @WalmartLabs.



Shopycat uses data from Facebook pages to estimate a person's top 10 friends, then recommends gifts based on the friends’ interests.