It’s no secret why Walmart bought Jet.com for $3 billion: the company’s e-commerce know-howo and experienced could be the key to the brick-and-mortar retailer’s plans of catching up with Amazon, finally, after all these years. But now that the honeymoon is over, it’s time to look at how, exactly, this marriage will work. [More]
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Walmart Acquisition Could Mean Most Jet Customers Have To Pay Sales Tax
By 8.11.16
E-commerce companies don’t have to collect sales tax from customers who live in states where they have no physical presence, which could be anything from their headquarters to a distribution center. That’s been one of the advantages that Jet has had in the marketplace over its chief rival Amazon, which has facilities in 28 states, including the most populous ones. Jet customers in most states don’t have to pay sales tax. However, that could change soon, after Walmart’s acquisition of the young e-commerce company. [More]
Walmart CEO Explains Why Company Spent $3 Billion On Money-Losing Jet
By 8.9.16
When the CEOs of Walmart and of Jet met for the first time, they fell in corporate love. The two men couldn’t stop envisioning the future of their companies together, sketching out their dreams of combining Walmart’s inventory and supplier relationships and Jet’s e-commerce algorithm. The companies announced their engagement this week, and Walmart CEO Doug McMillon explained what it was he ever saw in the startup, which has barely been selling to the public for a year. [More]
Winner Of The Jet Signup Contest Spent $18K On Ads, Prize Now Worth Millions
By 8.8.16
Back at the beginning of 2015, before it launched to the public, e-commerce site Jet used a contest to encourage people to refer others to the site. The winner was a Pennsylvania man who spent $18,000 on online ads, recruiting new Jet users through sites like Facebook and Swagbucks. He received 100,000 shares in the company, which he couldn’t cash in until the company went public or were sold. Today, the company announced that Walmart acquired it for $3.3 billion. [More]
