Walmart acquired Jet.com in 2016 for $3.3 billion.
Jet.com was founded in 2014 by Marc Lore, who had previously co-founded Diapers.com parent Quidsi. The online retailer launched in 2015 with a business model emphasizing low prices, large-scale purchasing, and savings that could change according to a customer’s cart. Walmart announced the acquisition in August 2016 and completed it in September.
The purchase was Walmart’s largest e-commerce acquisition at the time. Marc Lore joined Walmart to lead its U.S. e-commerce operations, and Jet’s technology and talent were used to accelerate Walmart’s online growth and challenge Amazon.
Jet.com remained a recognizable brand for several years, but Walmart gradually integrated its operations. Walmart announced in 2020 that it would discontinue the Jet.com website, while continuing to use elements of the business and its personnel within Walmart’s broader online strategy. The deal therefore bought more than a storefront: it also brought leadership, engineering expertise, and a fast-growing digital retail operation.