Wal-Mart To Launch Investment Arm In E-Commerce Push
March 23, 2017 | 1 min to read
Wal-Mart Stores Inc, the world's largest retailer, will launch its first investment arm to expand its e-commerce business in partnership with retail start-ups, venture capitalists and entrepreneurs, the company said on Monday.
The plan is being spearheaded by Marc Lore, Wal-Mart's e-commerce chief, who joined the Bentonville, Arkansas-based company from retail upstart Jet.com, which it acquired for more than $3 billion in August.
Since then, Wal-Mart has acquired three small web retailers to add urban and millennial shoppers.
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