Walmart to Purchase in Bid to Compete with Amazon

In its biggest bid yet to compete more directly with Amazon, Arkansas-based Walmart is acquiring e-commerce startup for $3.3 billion ($3 billion in cash and $300 million in shares to be paid over time). Walmart has been busy expanding its online operation, and the deal provides it with a shopping site that is adding 400,000 consumers monthly and has already reached a $1 billion gross merchandise run rate. Store-based businesses such as Costco, Target and Walmart have been looking for effective ways to contend with Amazon’s successful online model. Continue reading Walmart to Purchase in Bid to Compete with Amazon

Is a Price War Brewing Between and

Recently, Amazon has been offering discounts on sneakers and video games to its Prime members, prompting some industry watchers to predict an impending price war with discount shopping site Operating in private beta, the members-only Jet offers cheaper prices by lowering order fulfillment and shipping costs. The belief in the possibility of a price war is rooted in recent history: Jet was founded by former Amazon employee Marc Lore, whose previous company was the focus of a heated price war that ended with Amazon’s 2010 acquisition. Continue reading Is a Price War Brewing Between and