Retail giant Walmart is reportedly in talks to buy Jet.com for $3 Billion.
Walmart is reportedly planning to add some online smarts through the acquisition of jet.com. The Wall Street Journal reports that Walmart is in talks to buy jet.com, according people familiar with the matter.
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Jet.com has set out to fight Amazon.com in a big way, but so far did not really make an impression. Amazon is bigger than ever. Jeff Bezos' online imperium is doing some many things right at the moment its mind blowing. Just recently the company demonstrated that they have been able to fabricate a sales day bigger than Black Friday out of thin air. Prime Day 2016 in July set a new single day sales record for Amazon. Only Chinese Alibaba can match/beat that scale.
Walmart can use a new impulse for its online store. Walmart.com has come a long way, but it's not there where Amazon is.
The WSJ report says that Walmart will pay in the range of $3 billion for Jet.com, who planned to underprice Amazon with a vast marketplace a plan to rely more on suppliers than warehouse inventory.
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Neither companies have commented on the reported.