Last week Walmart purchased online merchant Jet for $3 billion in cash plus up to $300 million in Walmart shares to Jet founders — Walmart s largest U.S. ecommerce acquisition ever.
While this is a lot of money, it is a minuscule amount for a company of Walmart s size.
Walmart is the second largest U.S. ecommerce player by revenue.
Walmart s online sales of $13.6 billion are still small — about 2.8 percent — to its overall business.
As for Jet, it started out, in July 2015, with a $50 membership fee that it abandoned after three months.
An additional discount applies if a shopper pays with a debit card and if a person takes advantage of both features there is a further discount.