Competition
is heating up in the world of e-commerce. Walmart announced Monday that it will
be acquiring the e-commerce site Jet.com for a whopping $3.3 billion as it
aggressively moves to take on Amazon’s recent dominance in the online space.
Though Walmart is a leader in brick-and-mortar retail sales, online sales for
the company only accounted for 3% of its total revenue last year. An
acquisition like this is necessary if Walmart is ever going to challenge
Amazon. [more...]
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