Walmart Publicize Acquisition Of Startup Jet.com For $3bn
Acquisition for Beating Competitors
Recently, the e-commerce startup, Jet.com was acquired by Walmart for $3bn. This deal will probably include Jet.com’s proprietary technology, supplier contacts, and customer list. Lore is expected to handle US e-commerce operation of Walmart, after the closure of the deal.
Attraction for Technologies
Previously, Lore explained a technology related to classifying in real time orders flow. This technology helped in routing orders to the right retailers and keeping delivery and shipping costs low. As reported by sources, Walmart is now taking the interest in such technologies. Walmart is supposed to reduce its delivery and shipping costs, if it will execute these technologies successfully across its warehouses and existing stores. Likely, Walmart is planning to expand its existence in the third-party marketplace model by using Jet’s technologies. According to Walmart, this deal will help it to fill online sales gap with Amazon.
How acquisition of Jet.com will help Walmart in beating its rival? Please share your thoughts in the comments section below.
Subscribe with us to get your dose of interesting news, research & opinions in the startup segment. Fill the form below:
[email-subscribers namefield=”YES” desc=”” group=”Public”]