Walmart's ready to bring the digital retail fight to Amazon – and it looks like the first push of this renewed assault will come in the form of the largest e-commerce acquisition of all time.
So which e-commerce heavyweight did Walmart snap up in its bid to gain more online market share? As Recode's Jason Del Rey explains, Sam Walton's brick-and-mortar behemoth set its sights on Jet.com – a plucky (yet unproven) startup. In return for the rights to this emerging platform, Walmart handed over $3 billion in cash and nearly $300 million in the parent company's stock as part of an incentive-laden bonus plan for the executive group of Jet.com.
Interested in learning more about why Walmart was willing to bet big on a startup that only launched its site widely last July? Then set aside a few minutes of your day to dig into Del Rey's full story over on Recode.