walmart to buy us online retailer jetcom
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Wal-Mart to buy US online retailer Jet.com

Arab Today, arab today

Arab Today, arab today Wal-Mart to buy US online retailer Jet.com

New York
New York - Arab Today

Wal-Mart Stores announced Monday that it will acquire e-commerce company Jet.com for $3.3 billion as it beefs up its online retail operations in response to Amazon and other companies.

Wal-Mart is paying $3 billion in cash for the online retailer. Shareholders of Jet.com, which was launched in July 2015, will also receive $300 million in Wal-Mart shares, Wal-Mart said. 

 
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