Walmart got out of the gate early with the big announcement of the week, with the news that they will be acquiring Jet.com for $3.3 billion in cash and stock.
This deal will mark the biggest eCommerce buy in U.S. history and a sure sign that Walmart is not kidding around about maintaining its dominant retail position in the face of Amazon’s growing influence.
Marc Lore comes part and parcel with the deal. He will join Walmart as the firm’s top eCommerce executive, and he will replace Neil Ashe who joined Walmart in 2012.