WAL-MART $3 Billion Acquisition Of Electricity Supplier Jet.Com

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Jet.com announced yesterday that the two sides have reached a final agreement.

Under the agreement, WAL-MART will acquire Jet.com for about $3 billion in cash.

WAL-MART said that part of the $3 billion acquisition of cash would be paid to Jet.com gradually.

In addition, as part of the takeover paction, WAL-MART will gradually pay $300 million worth of Jet.com shares to the company.

WAL-MART and Jet.com will retain their brands.

Among them, WAL-MART will focus on promoting the daily low price strategy, Jet.com will continue to provide unique, differentiated user experience.

WAL-MART and Jet.com will use the innovative technology solutions of both sides to develop new services to save time and money for customers.

The deal has been approved by the board of directors and approved by regulators. It is expected to be completed this year.

With the help of this deal, WAL-MART will strengthen its electricity supplier sector to better cooperate with it.

Compete with other online retailers.

The press release shows that users of Jet.com in the urban and millennial generation are growing, adding more than 40 new shoppers a month, with an average of 25 thousand processing orders per day.

Last year, WAL-MART's electricity business sales nearly $14 billion, accounting for 3% of its annual revenue of $482 billion.

Although the company had just created more than 20 years ago, Amazon's sales reached $107 billion last year, including the network services business.

According to people familiar with the matter, Jet.com founder Mark Carol (MarcLore) will serve as senior leader in WAL-MART's e-commerce business, while WAL-MART electric business leader Neil Arcia (NeilAshe) is expected to leave.

Alicia joined WAL-MART in 2012 as head of the electricity supplier business.

WAL-MART shares rose 0.7% in pre trading, up 20.3% this year, and the standard & Poor's 500 index has risen 6.8% this year.