The startup, run by entrepreneur Marc Lore, hopes to become a major player in e-commerce, but it will have to contend with Amazon for customers' attention.
Walmart's never catching Amazon, okay?
This morning, Walmart made official its previously rumored, $3 billion play for Jet, the promising e-commerce upstart. It’s tempting to think of this as Walmart’s shot at Amazon. Don’t. The online retail race still won’t be close. And it may never be.
Walmart Stores is buying Jet.com in a deal worth $3 billion dollars according to a source with direct knowledge of the deal, confirming reports that have been pouring in about the bid for Jet.com all week.
