Report: Wal-Mart looking to buy etailer Jet for $3B

Report: Wal-Mart looking to buy etailer Jet for $3B

In what would be one of the most stunning events in retail in quite a while Wal-Mart is reportedly eyeing newcomer etailer for acquisition, just one year after Jet arrived to battle online giant Amazon.

The Wall Street Journal reports Wal-Mart is in talks in what a source claims may be a $3 billion deal. WSJ doesn't name its source for the report and notes such a deal would help Wal-Mart's efforts to rebound and provide a fast home delivery service opportunity.

Jet, with a valuation of over $1 billion, has received more than $500 million in capital investment from venture firms, notes WSJ, which did not indicate if it had reached out to Jet founder Marc Lore for comment on the potential sale.

Topics: eCommerce, Financial News, Online Retailing

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