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Walmart purchased Jet.com in 2016 with the usual fanfare that comes from a $3.3 billion corporate purchase. Jet.com was an up-and-coming online company, only a year old, that was trying to get an edge on the retail market by offering an innovative discount system and improving the distribution chain.
Dear Reader,
Walmart purchased Jet.com in 2016 with the usual fanfare that comes from a $3.3 billion corporate purchase. Jet.com was an up-and-coming online company, only a year old, that was trying to get an edge on the retail market by offering an innovative discount system and improving the distribution chain.
These billion-dollar assimilations happen all the time in the high-tech industry. The most common scenario is a big high-tech company like Facebook or Amazon buying a startup, but another scenario that is also churning out there in the IT space is the phenomenon of old-school brick-and-mortar companies buying online startups in order to gain a foothold on the future and inject some high-tech juju into their doddering corporate culture.
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