Jet.com reportedly to be acquired by Walmart for $3 billion

Jet.com reportedly will be acquired by Walmart in a deal said to be worth $3 billion, the culmination of talk that first made waves last week. Under the terms of the deal, Jet cofounder and chief executive Marc Lore will remain at his post and will helm Walmart’s U.S. ecommerce operations. The person Lore’s replacing at Walmart, Neil Ashe, is said to depart “after a transitional period.”
Launched in 2015, Jet aimed to take on Amazon, Walmart, and other online re