US-based retail marketplace Luvocracy has been acquired by WalmartLabs, retail chain Walmart’s incubator, providing an exit to AOL-backed venture firm Crunchfund and Google’s corporate venturing fund Google Ventures.
Luvocracy is a social marketplace where users can recommend products to each other. The company also offers a ‘buy it for me’ feature that allows users to buy products they find on its website or app.
As part of the deal, Luvocracy chief executive Nathan Stroll and 16 other staff members will join the WalmartLabs team. The new additions will help Walmart’s website improve its own product discovery features.
Luvocracy raised $11m in a series A round in 2013 from Kleiner Perkins Caufield & Byers, Google Ventures, Crunchfund, RPM Ventures, XG Ventures and assorted angel investors.
WalmartLabs acquired shopping app developer Stylr for an undisclosed amount last month, the incubator’s 13th acquisition in three years.
– Image courtesy blog.luvocracy.com