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Mon Sep 19, 2016, 11:02 PM

Wal-Mart completes acquisition of Jet.com

Source: Reuters

Wal-Mart Stores Inc (WMT.N) on Monday said it has completed the acquisition of internet retailer Jet.com after agreeing to pay about $3 billion for the e-commerce startup last month.

The acquisition will impact Wal-Mart's 2017 fiscal year earnings marginally more than the retailer's initial estimate of a 5 cents per share impact as the transaction closed ahead of time, Wal-Mart said.

The deal, which was the largest for an online startup, will give Wal-Mart access to Jet.com's innovative pricing software and will help the Bentonville, Arkansas-based retailer to better compete with online rival Amazon.com Inc (AMZN.O).

"A lot of folks ask me 'Why Jet.com?," McMillon said in a blog post. The answer he said was in the savings both Wal-Mart and Jet can together offer shoppers.

Read more: http://mobile.reuters.com/article/idUSKCN11P27U

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Arrow 4 replies Author Time Post
Reply Wal-Mart completes acquisition of Jet.com (Original post)
NWCorona Sep 2016 OP
C Moon Sep 2016 #1
Marthe48 Sep 2016 #2
Skittles Sep 2016 #3
sinkingfeeling Sep 2016 #4

Response to NWCorona (Original post)

Mon Sep 19, 2016, 11:30 PM

1. Oh boy: that's always good news.

Say good-bye to 50% of the Jet.com jobs.

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Response to NWCorona (Original post)

Mon Sep 19, 2016, 11:34 PM

2. I won't shop walmart

as soon as I heard they acquired Jet, I crossed it off my list. I was buying from Jet, because they had some things I needed, but I can get them somewhere else if I have to get more.

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Response to NWCorona (Original post)

Tue Sep 20, 2016, 12:39 AM

3. I have never heard of Jet.com

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Response to NWCorona (Original post)

Tue Sep 20, 2016, 12:45 AM

4. Great to buy out all of your competitors.

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