Walmart Archive

Wal-Mart in Talks to Invest Up to $1 Billion in India’s Flipkart

NEW YORK, United States —  Wal-Mart Stores Inc. is in advanced discussions to invest as much as $1 billion into India’s Flipkart Online Services Pvt, as the two companies battle Amazon.com Inc. in e-commerce, according to a person familiar with the matter. Wal-Mart, the world’s largest retailer, would take a minority stake in Flipkart, the person said, asking not to be identified because the matter is …

Walmart removes 9/11 WTC tribute display made from Coke cartons

A Walmart in Panama City, Florida removed this display after the photo circulated on Twitter, infuriating a lot of people. The World Trade Center was made from stacked cartons of Coke Zero. The American Flag consisted of cans of Coke, Diet Coke, and Sprite. “We hold this moment in our country’s history in the highest regard, and there was nothing disrespectful intended by …

Can foreign tech companies win in China?

People have often referred to Google, Facebook and Twitter as cases where foreign tech companies are blocked in China. In reality, while Facebook and Twitter were indeed blocked, Google chose to withdraw because they didn’t want to comply with Chinese censorship regulations. It’s important to note that most foreign tech companies were not blocked, and companies like eBay, Amazon, Viadeo and, of course, Apple and Samsung …

What this month’s Jet.com sale means for the future of retail

One in ten retail sales in the United States –- a projected $373 billion in 2016 -– happens online. Forrester predicts total U.S. online retail will grow to $500 billion by 2020. That number will only continue to increase globally as more businesses take core operations to the web. Retailers grasp the web-focused future of the industry, but the sale of Jet.com to Walmart earlier …

Wal-Mart Profit Beats Expectations With Stocks Rising

BENTONVILLE, United States — Wal-Mart Stores Inc , the world’s largest retailer, reported a higher-than-expected quarterly profit on Thursday as sales at its established US stores rose for the eighth consecutive quarter, sending its shares up more than 3 percent. Excluding a non-cash gain from the sale of Wal-Mart’s e-commerce business in China and other items, earnings per share came to $1.07 in the second …

The next $1 billion startup acquirer won’t be a tech company

Acquisitions starting with a “B” are not uncommon in the tech industry in Silicon Valley. Roughly two to four billion-dollar deals have gone down each quarter (on average) over the last few years. The recent purchases of Cruise Automation by GM and Dollar Shave Club by Unilever turned heads for another reason: The buyers were as non-techie as you can get. The Renaissance Center in Detroit  — …

Meth lab found underneath a Walmart parking lot

We’ve heard countless stories about people brewing up meth in Walmart bathrooms, but now police have found a meth lab underneath a Walmart in Amherst, New York! They discovered the underground lab inside a culvert below the store’s parking lot and a crew in hazmat gear is now clearing out the tunnel. From WIVB: “We’ll talk to the proper …

Bits & Bytes | Walmart Buys Jet.com, African E-Commerce Startups

“Meet Walmart’s $3.3 Billion Employee” (Bloomberg)“The world’s biggest retailer announced on Monday it was buying upstart online retailer Jet.com for $3 billion in cash, plus $300 million in stock over five years — topping QVC’s $2.4 billion purchase of Zulilly.com last year as the largest-ever acquisition of an e-commerce company.” “The Web Startups Looking to Cash in on 1 Billion African Consumers” (The Guardian)“The continent’s …

Wal-Mart to Buy Jet.com to Compete with Amazon

BENTONVILLE, United States — Wal-Mart Stores Inc said on Monday it would buy online retailer Jet.com for about $3 billion (£2.30 billion), the largest-ever deal for an e-commerce startup, as it races to build a Web business to better compete with Amazon.com Inc . Wal-Mart’s online business has struggled, posting its slowest growth in a year in the latest quarter, and the Jet deal reflected …