Wal-Mart Completes Acquisition of Jet.com

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

Wal-Mart Chief Executive Doug McMillon announced the closing of the deal, which was pending regulatory approval, in a blog post on the retailer’s website.

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.

“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.

Jet, with its ability to lower prices as customers add more items to their shopping carts, will help the world’s largest retailer reach more customers such as millennial shoppers. The deal would also strengthen Wal-Mart’s existing ecommerce infrastructure, McMillon said.

Wal-Mart has built its website into the second largest online retailer by traffic in the U.S. in the past six months, the blog post said. It has also expanded the assortment of products on its website from 7 million to 15 million items and is adding a million more each month.

Jet’s founder Marc Lore will join Wal-Mart as the president and chief executive of Wal-Mart’s U.S. ecommerce business and will report to McMillon, the company said in a separate statement.

“I’ll be spending a lot of time with the team in the coming weeks and months focused on scaling Walmart.com and Jet.com,” Lore said.

Over a five-year period Lore will receive stock units that involve the issuance of 3.55 million shares of Wal-Mart’s common stock valued at 10 cents per share, the statement said. This is a part of the $300 million of Wal-Mart shares that would be paid over time as part of the original transaction.

The Jet deal follows a five-year e-commerce acquisition spree in which Wal-Mart has bought 15 startups, seeking the talent and technology to make it a dominant player online and narrow the gap with Amazon.

(By Nandita Bose; Editing by Grant McCool and James Dalgleish)

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyStudyWriters
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Sociology
THANK YOUUUUU
Customer 452591, March 18th, 2021
Management
Love this writer!!! Great work
Customer 452597, April 5th, 2021
Business and administrative studies
always perfect work and always completed early
Customer 452773, February 21st, 2023
business
Thank you for your hard work and help.
Customer 452773, February 13th, 2023
Leadership Studies
excellent job
Customer 452773, August 26th, 2023
Human Resources Management (HRM)
excellent job
Customer 452773, July 17th, 2023
Psychology
Thank you!
Customer 452545, February 6th, 2021
Criminal Justice
The paper was not accused of plagiarism and was written very well. I will let you know the grade once it is graded. Thank you
Customer 452671, April 26th, 2021
Business and administrative studies
Excellent job
Customer 452773, March 9th, 2023
History
Looks great and appreciate the help.
Customer 452675, April 26th, 2021
Business and administrative studies
looks good thank you
Customer 452773, March 3rd, 2023
Human Resources Management (HRM)
excellent work
Customer 452773, July 3rd, 2023
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp