Wal-Mart to Acquire Jet.com for $3.3 Billion to Fight Amazon

Bloomberg

Wal-Mart Stores Inc. agreed to buy e-commerce startup Jet.com Inc. for about $3.3 billion, giving the world’s largest retailer the resources for a stronger shopping website to compete with market leader Amazon.com Inc.

“Wal-Mart has definitely put its stake in the ground saying, ‘We’re going to be winning in e-commerce,’” said Joseph Feldman, an analyst at Telsey Advisory Group. “Amazon should be concerned about what Wal-Mart is doing.”

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