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Walmart To Buy For $3.3 Billion


Walmart will acquire Jet.Com for $3 billion. Walmart plans to leverage jets smart basket technology to grow its online business. Walmart also gains the expertise of Jet CEO Marc Lore known for his creativity and ability to execute this deal comes only a year after Jet launched. Walmart bets $3 billion that Jet.Com is the key to gaining on Amazon. Jet co-founder and CEO Marc Lore will continue to run jet as well as Walmart's U.S e-commerce operations after the acquisition closes, according to sources.