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

Aug. 8, 2016, 10:34 PM

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.

The deal includes $3 billion in cash and $300 million in shares that will be paid over time, the world’s largest retailer said Aug. 8 in a statement. Acquiring Jet.com, which achieved a $1 billion gross merchandise run rate in a little more than a year, gives Wal-Mart a website that processes an average of 25,000 orders a day and is adding 400,000 shoppers monthly.

The move ...

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