Four years ago, Walmart made a pricey bet on its e-commerce future. It paid $3.3 billion to buy Jet.com, an e-commerce startup that it hoped would attract younger, affluent and city-dwelling customers and help it fend off Amazon’s rapid rise.
On Tuesday, Walmart announced it will discontinue Jet.com and phase out the brand.
Wal-Mart has had a hard time making their e-commerce offerings turn a profit. They’ve tried many things, with varying degrees of success. ModCloth was acquired and sold off, Allswell, the mattress brand appears to be doing fine, Bonobos still exists, and Jetblack was a personal shopping service for rich people in NYC. That last one turned out as you’d expect.Last Updated: February, 7th, 2021 at 07:19 pm UTC