As more shopping moves to desktops and smartphones and growing competition from Amazon, Walmart is snatching up startup Jet.com for $3 billion.
With Jet.com, Walmart is adding technology expertise to its app, site and stores to help the massive retailer build up its ecommerce business.
"Walmart.com will grow faster, the seamless shopping experience we're pursuing will happen quicker and we'll enable the Jet brand to be even more successful in a shorter period of time," said Walmart president and CEO Doug McMillon in a statement.
CEO Marc Lore launched Jet.com
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