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Walmart shutting down Jet.com it paid $3 Billion dollars for!

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Jet.com will be shut down by Walmart, four years after it paid a massive $3 billion dollars to acquire the business and domain.

The original Jet.com company was formed in 2014, after the domain was sold by domain investor, Garry Chernoff, in a deal brokered by Igloo.com (now Domain Advisors.)

When Walmart made its acquisition of Jet.com in 2016, its goal was to complement its brick-and-mortar stores and compete against Amazon.com as a primary shopping destination.

Despite efforts by Walmart to promote the Jet.com brand, sales haven’t been stellar, and Walmart wants to put a happy ending to the online outlet.

It’s quite possible that Walmart will consider selling the domain name Jet.com to an aviation company. Once the Coronavirus pandemic subsides, that is, and global flights resume.


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Comments

One Response to “Walmart shutting down Jet.com it paid $3 Billion dollars for!”
  1. Data Glasses says:

    They should have gone with SpaceForce … it’s a growing industry

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