Alibaba and Alphabet-backed e-commerce platform Jet, which raised money at a $1bn valuation in November, could be acquired by Wal-Mart for up to $3bn.
Supermarket conglomerate Wal-Mart has entered talks to acquire US-based e-commerce startup Jet for a price that could reach $3bn, the Wall Street Journal reported yesterday, citing people familiar with the matter.
The prospective acquisition would mean exits for investors including e-commerce firm Alibaba and GV, the corporate venturing subsidiary of internet technology conglomerate Alphabet formerly known as Google Ventures.
Jet employs an e-commerce model that allows buyers to save money by buying goods in bulk, not too dissimilarly to how…
