August 5, 2016 Comments Off on Walmart reportedly looking to acquire Jet.com
Walmart is reportedly currently in talks to acquire Jet.com, a rival of Amazon. In a transaction that could value Jet.com up to $3 billion, the deal is the latest in a string of buyouts in the ecommerce space that includes Bed Bath & Beyond’s acquisition of One King’s Lane and Hudson’s Bay’s purchase of the Gilt Groupe. The deal also highlights a growing trend in the O2O strategy being implemented in the retail environment. For Walmart, Jet.com will give finally give the retail giant the chance to revamp its online store and compete head-on with Amazon, which dominates the ecommerce space with a 41.2% market share.
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