Which e-commerce company did Walmart acquire in 2016 for $3.3 billion? The answer is Jet.com.
Walmart announced its agreement to acquire Jet.com on August 8, 2016, in a deal valued at approximately $3.3 billion. The structure combined about $3 billion in cash with up to $300 million in Walmart stock, making it one of the largest acquisitions of a U.S. e-commerce startup at the time.
Jet.com had been founded by Marc Lore and launched in 2015 with a technology-driven shopping model. Its pricing system encouraged customers to bundle purchases and choose options such as slower shipping or fewer packages in exchange for lower prices. Walmart saw Jet’s technology and leadership team as important tools for competing more effectively with Amazon.
The acquisition was completed in September 2016. Jet.com continued as a Walmart-owned brand for several years, while its talent, technology and e-commerce ideas were increasingly integrated into Walmart’s broader online business. Walmart later discontinued the Jet.com brand, but the deal remained significant in its digital transformation.