Wal-Mart Reported to Be in Talks to Buy Web Retailer Jet.com
CNBC is reporting that Wal-Mart is eyeing a potential acquisition of Jet.com, an online retailer created to challenge Amazon, according to a Dow Jones report citing people familiar with the matter.
“Though it isn’t clear how much the world’s largest retailer would cough up for Jet, a personal familiar with the talks told Dow Jones that the website could be worth $3 billion, the organization reported Wednesday,” according to CNBC.
The report by Krystina Gustafson adds that one-year old Jet.com has raised more than $500 million in funding in its quest to dethrone Amazon, according to CrunchBase.