Wal-Mart buys iPhone app agency to improve mobile commerce

The group responsible for bringing multinational retail corporation Wal-Mart into the era of mobile and social commerce has just expanded. WalmartLabs, the retail giant’s eight month-old social and mobile product incubator, has acquired Small Society to help improve customers’ mobile experiences, the group announced Wednesday. Terms of the deal were not disclosed.

Wal-Mart to buy video streaming service Vudu

It’s time to add another huge player to the video streaming business. The New York Times is reporting that Wal-Mart has agreed to purchase Vudu, a startup that has been struggling to make a dent in the video streaming marketplace since 2007. The Times says the news comes from two anonymous sources close to the deal, and there still isn’t any official confirmation from reps at Wal-Mart and Vudu.