According to The Wall Street Journal’s Greg Bensinger and Sarah Nassauer, Jet.com could be on its way to being Walmart’s next acquisition.
The Journal reports that the details of the deal haven’t been revealed but that the purchase price could be “as much as $3 billion,” according to sources familiar with the retailer’s plans.
Launched in 2015, e-commerce website Jet.com grew itself into a unicorn startup with valuations over $1 billion and a direct competitor of Amazon.com. The website has products with prices 10% to 15% lower than those of its competitors.
Jet.com declined to make a comment.
Disclaimer: We have no position in Wal-Mart Stores Inc. (NYSE: WMT) and have not been compensated for this article.