Walmart’s $3.3 billion acquisition of is still the foundation on which all of its e-commerce dreams are built (WMT)


Walmart bought hot e-commerce startup in a $3.3 billion deal in 2016. Now, Walmart is folding all Jet employees in to the rest of its e-commerce operations, while retaining the Jet brand. While Jet has struggled to thrive in the niche Walmart wanted it to fill, the acquisition has still played a fundamental role in the strong growth of Visit Business Insider’s homepage for more stories.

Walmart shocked the world when it bought hot e-commerce startup in a $3.3 billion deal in 2016. 

CEO Doug McMillon hailed it as a new era for Walmart.

“Together, both and will be able to leverage each other’s assets to grow the ways we serve customers,” he wrote in a Walmart blog post as the deal closed.

Some still scratched their heads. One analyst joked that Walmart was “ lighting money on fire.

After all, Walmart already had a website that was directed at a mass population. How would and work together? Would they inevitably clash?

Over the next three years, it was something of a tale of two websites. surged, adding millions of items to its selection and growing e-commerce sales 40% in 2018.


Read the rest of this post here