Walmart to acquire retail newcomer Jet

Q.  Walmart has agreed to purchase which online retailer?
- Published on 09 Aug 16

a. Jabong
b. Myntra
c. Voonik
d. Jet

ANSWER: Jet
 
Walmart has agreed to purchase fast growing online retail newcomer Jet dot com that aims to challenge Amazon
  • Walmart will now be directly able to compete with Amazon as buying the online retailer will help it to grab higher income customer who typically is younger
  • Move followed a series of acquisitions by major traditional retailers for online startups

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