How Walmart turned its $3.3 billion acquisition of into its greatest weapon against Amazon

Why won't fix Walmart
By Dennis Green.

Inside Jet’s headquarters in Hoboken, New Jersey, a year afterWalmart acquired it for $3.3 billion, the company still feels very much like a startup.

A pool table, with felt in the company’s signature purple, is next to the chairs in the visitors’ waiting area. Visitors are required to take a selfie with an iPad upon registering with security. The conference rooms on one floor have comic-book-themed names. And there are plenty of snacks to be had in the pantries on both floors.

It may be part of the world’s biggest retailer now, but Jet still has its own personality.

The goal of the site, which burst onto the scene in 2015 as the brainchild of the e-commerce pioneer Marc Lore, was to shake up a crowded online marketplacef and take on Amazon. Jet experienced rapid growth and, in total, raised $500 million in venture-capital funding from heavy-hitting investors like Goldman Sachs, Fidelity, Google Ventures, Forerunner Ventures, and Bain Capital.

Read more at Business Insider.

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