Walmart To Buy Jet.com Says WSJ Report

Posted: Aug 3 2016, 11:35am CDT | by , in News | Latest Business News

 

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Walmart to Buy Jet.com Says WSJ Report
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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.

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.

Neither companies have commented on the reported.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
Luigi can be contacted directly at ml[@]i4u.com.

 

 

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