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Jet.com
JET.COM

JETCOM deal valued at $3.3 billion !

Jet.com becomes a part of the Walmart family.

The close of this deal marks a big day for both companies. Together, Jet.com and Walmart can win the future of retail. We’re in the business of “saving people money so that they can live better.” But the value of our customers’ time cannot be overstated. To win the future of retail, we must save customers both money and time. By combining with Jet.com’s technology, shopping experience, customers and talent, we will do exactly that. We will exceed their expectations!






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Walmart agrees to acquire Jet.com, one of the fastest growing e-Commerce companies in the U.S.

Walmart announced that it has agreed to buy Jet.com for $3 billion in cash, with another $300 million in stock kicked in for good measure.

Walmart expect growth in its online shopping business, which has slowed in recent quarters.

"Walmart.com will grow faster, the seamless shopping experience we're pursuing will happen quicker, and we'll enable the Jet brand to be even more successful in a shorter period of time," Doug McMillon, president and CEO of Walmart, said in a statement.

Jet.com and Walmart.com’s customer bases are complementary. Jet.com is a hit among urban millennials, and it will continue to focus on delivering premium brands and experiences. Walmart.com is winning value-conscious shoppers with everyday low prices by keeping costs low. And that’s enhanced by a wide assortment and convenient store pickup options. Together, both Jet.com and Walmart.com will be able to leverage each other’s assets to grow the ways we serve customers.


Sources: 

Walmart Agrees to Acquire Jet.com

Walmart buying Jet.com for $3.3 billion to take on Amazon

Five Big Reasons Walmart Bought Jet.com

1 Year Later, Wal-Mart's Jet.com Acquisition Is an Undeniable Success