Walmart Tries to Close Gap with Amazon, Acquires Jet.com

Walmart Tries to Close Gap with Amazon, Acquires Jet.com

Though Walmart is a giant in the brick-and-mortar retail space, Amazon is the clear king of eCommerce here in the States. In a bid to help close the gap, Walmart has announced it will buy shopping startup Jet.com for $3 billion in cash. When Walmart acquires Jet.com, which is expected to pass regulatory approval later this year, they’re not just getting a year-old eCom site—but, more importantly, the talent behind the operation. Jet founder &…

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