Walmart is in talks to acquire Jet.com an eCommerce startup that has raised more than $800 million in financing in an attempt to build a new online megastore. The deal could be valued as much as $3 billion.
What attracts Walmart to buy Jet.com?
Walmart would be acquiring the startup’s sophisticated pricing technology, which provides discounts to shoppers based on factors such as order size and proximity to partner warehouses. Shoppers typically save more as they add additional items to their virtual cart.
Walmart is also interested in acquiring a leadership team led by Lore (Founder Jet.com) that is widely viewed as having some of the best e-commerce operations minds in the business.
Experts TAKE on this deal
The deal could help Walmart become the No. 2 online retailer
Walmart vs Amazon - Product Offering
Walmart.com only offers around 11 million products
Amazon offers 260 million products
Jet.com business strategy
For a $50 annual membership, Jet members could buy diapers, cleaning supplies, and sporting goods, promising prices 10% to 15% below elsewhere online.
Walmart buying Jet.com - is it going to Become A Real Threat To Amazon??
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