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Walmart Acquires Jet.com for $3 billion

     
5:13 pm on Aug 8, 2016 (gmt 0)

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Walmart buys it's way big into e-commerce by acquiring jet.com for $3 billion cash, and a further $300 million Walmart shares paid over time.

Here's the corporate speak...
Walmart and Jet will maintain distinct brands, with Walmart.com focusing on delivering the company’s Everyday Low Price strategy, while Jet will continue to provide a unique and differentiated customer experience with curated assortment. Walmart and Jet will leverage innovative technology solutions from both companies to develop new offerings to help customers save time and money.


Either way, that's going to be a much stronger competitor to Amazon.


[news.walmart.com...]
9:47 pm on Aug 29, 2016 (gmt 0)

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And he does it again! I guess this one is slightly different, since the first time he created a competitor to Amazon it was bought directly by Amazon, and now his amazon beater is purchased by another hopeful Amazon beater.
9:16 am on Sept 3, 2016 (gmt 0)

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This purchase seems way overpriced to me, over double the recent funding round valuation. While Jet have some ideas, there hasn't been any sign of good execution so far afaik. Any biz pro knows that ideas are fun, but good execution is gold dust.

Walmart have improved their own ecommerce operation immensely over the past ~2 years, from "avoid" status to "let's try Walmart.com". Imo they should keep plugging away and learning and gradually accumulating ecommerce market share.

Where they could leap ahead is with clever leverage of their ubiquitous stores, that's their strategic ace for online market share. Unless corporate politics is in the way.
4:25 pm on Sept 3, 2016 (gmt 0)

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I've shopped at Walmart.com. It's a great destination for purchasing certain things and having it shipped free to a nearby store. Walmart ranks well, too. I've never heard of Jet, never seen them in the SERPs. Seems like one of those deals reminiscent of Meg Whitman at eBay buying Skype for $4 billion dollars.