Walmart buys Amazon rival Jet for $3.3 billion
American multinational retail chain Walmart on Monday acquired Amazon's rival Jet for $3 billion in cash, plus up to $300 million in shares for the founders. The deal is the largest ever purchase of a US e-commerce startup. Founded in 2014, Jet is an online-only shopping site that has raised $565 million in four rounds of funding from investors including Alibaba.