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Walmart agreed to buy Jet.com for US$3 billion to challenge Amazon

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Walmart had agreed to buy over e-commerce Jet.com for about USD3 billion (SGD4.03 billion). Giving the world biggest retailer the materials for better shopping website to challenge with Amazon.com.

The agreement also included USD300 million Walmart share.

Walmart also spent billions in expending their online service which include hiring thousand of staff, opening two offices in silicon valley and building e-commerce distribution center.

It also started an annual subscription half the price of Amazon prime.

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