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"NEW YORK (AP) — Wal-Mart is buying fast-growing online retailer Jet.com for $3 billion in cash plus $300 million in stock, scooping up a newcomer that launched a year ago with the intention of challenging online leader Amazon. The hefty price underscores how Wal-Mart is trying to compete more aggressively and effectively for younger and more affluent customers as it has seen its online business growth slow, even with big investments in distribution centers and expanding services. Analysts say the acquisition still won't enable Wal-Mart to catch up to Amazon in sales, but it will help narrow that gap and should widen the distance between Wal-Mart and other online retailers. The deal also reflects the difficulties for startups like Jet.com of making it on their own in a sphere Amazon dominates with its network of distribution hubs and the powerful asset of its Prime membership program. The move follows a series of acquisitions by major traditional retailers of online", www.sfgate.com
"NEW YORK (AP) - Wal-Mart is buying fast-growing online retailer Jet.com for $3 billion in cash plus $300 million in stock, scooping up a newcomer that launched a year ago with the intention of challenging online leader Amazon. - ANNE D'INNOCENZIO, Philadelphia AP", www.philly.com
"Jet.com is an up and coming player in online retail. Wal-Mart Stores (WMT) is reportedly in talks to acquire online retailer Jet.com, a move that should have the executives at Amazon.com a little nervous. While Wal-Mart is massive in the brick-and-mortar business, it is nowhere near is big as Amazon.com", finance.yahoo.com
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