On August 8, 2016, Walmart announced a deal to acquire e-commerce website Jet.com for US$3.3 billion.[84][85] Jet.com co-founder and CEO Marc Lore stayed on to run Jet.com in addition to Walmart's existing U.S. e-commerce operation. The acquisition was structured as a payout of $3 billion in cash, and an additional $300 million in Walmart stock vested over time as part of an incentive bonus plan for Jet.com executives.[86] On October 19, 2016, Walmart announced it would partner with IBM and Tsinghua University to track the pork supply chain in China using blockchain.[87]