Walmart acquires Jet.com – Confirmed

The news is confirmed now that Walmart has definitively agreed to acquire e-commerce company Jet.com for US $3 billion in cash, a part of which will be paid in a staggered manner. This acquisition will give Walmart the leverage of e-com growth and wider customer reach. Walmart expects various benefits including reduction in prices, broadening of their services and take on competition stronger. The take-over is expected to be finalized by the year end.

wall Mark

Both Walmart and Jet have agreed to maintain their distinct brands where Walmart will focus on delivering their strategy – Everyday Low Price, while Jet will continue offering the clients ‘curated assortment’.

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