Items tagged with jet.com

In many ways Walmart is the offline version of Amazon, the one-stop shop for everyone from car parts and baby diapers to groceries and toothpaste. Now in an effort to significantly bolster its online presence and become Amazon's primary web competitor, Walmart has entered into a definitive agreement to acquire Jet.com, a fast growing e-commerce portal, for $3 billion in cash plus another $300 million in Walmart shares to be paid over time, Walmart confirmed today. Walmart already conducts business online but not on the same scale as Amazon. The acquisition of Jet.com will build on and complement Walmart's online shopping foundation and spur faster e-commerce growth by expanding customer reach... Read more...