Walmart to acquire

HOBOKEN – Walmart is poised to acquire the e-commerce startup, for a reported $3 billion, according to numerous online sources., with corporate offices in Hoboken, debuted last summer, hoping to challenge Amazon’s dominance in online shopping. Walmart, for its part, is seeking to improve its online shopping profile. Jet will remain a separate brand. “The combination of Walmart’s retail expertise, purchasing scale, sourcing capabilities, distribution footprint, and digital assets—together with the team, technology and business we have built here at Jet—will allow us to deliver more value to customers,” said Jet Founder and Chief Executive, Marc. Lore ,in a press release.

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