Wednesday April 8, 2020

Wal-Mart bets on Jet.com to battle Amazon

$3.3 billion deal is retail giant's biggest in the US

8th August, 2016
Buy represents latest Wal-Mart e-commerce push Pic: Getty

US retail giant Wal-Mart has agreed to buy e-commerce startup Jet.com Inc. for about $3.3 billion, giving it the resources for a stronger shopping website to compete with market leader Amazon.com.

The deal includes $3 billion in cash and $300m in shares that will be paid over time, the world’s largest retailer said today in a statement. Acquiring Jet.com, which achieved $1 billion in sales in a little more than a year, gives Wal-Mart...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Every time Donald Trump spoke on the Covid-19 crisis last week, the stock markets plunged by another point

Marion McKeone | 3 weeks ago

Big tech firms pledge to pay contract staff through the social-distancing period

Emmet Ryan | 3 weeks ago

Further action may be needed to prevent the Irish economy being sunk, particularly when the global economy remains vulnerable

Ian Guider | 3 weeks ago