Luvocracy bought out by @WalmartLabs

Wal-Mart (WMT +0.2%) nabs social shopping site Luvocracy for its @WalmartLabs property.

The Luvocracy service will be shut down by Wal-Mart with the acquisition seeming to have more to do with adding key staff and technology to bolster @WalmartLabs.

Financial terms of the deal weren't disclosed.

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