Monday, August 08, 2016

Walmart is buying Jet.com for $3 billion and will announce the deal on Monday - Recode

A new runway for Jet

"Walmart, the world’s largest retailer, is set to acquire two-year-old online retailer Jet.com in what appears to be the largest-ever acquisition of an e-commerce company, according to multiple sources familiar with the transaction.

The deal is expected to value Jet at right around $3 billion, according to these people. Some senior Jet executives, including co-founder and CEO Marc Lore, will have incentive bonuses on top of that.

Lore will continue to run Jet as well as Walmart’s U.S. e-commerce operations after the acquisition closes."
Walmart is buying Jet.com for $3 billion and will announce the deal on Monday - Recode
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