Walmart Mulls Future Of Three Years After Acquisition

When Walmart paid $3.3 billion for in August of 2016, Wall Street saw the move as bold step — and somewhat necessary — to help the Bentonville-based retailer up its online game.

At the time, it was the highest price Walmart had paid for an internet retailer, but the deal included Jet’s highly-regarded founder and CEO Marc Lore, who agreed to stay with Walmart for a minimum of five years. The plans at the time were for the two companies to run autonomously, with Jet keeping offices in Hoboken, N.J., where Lore would continue to reside and work as CEO of Walmart U.S. eCommerce.

Walmart President and CEO Doug McMillon said in 2016 Walmart was looking for ways to lower prices, broaden assortment and offer the simplest, easiest shopping experience possible for customers.      MORE

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