Wal-Mart to launch investment arm in e-commerce push


Wal-Mart to launch investment arm in e-commerce push
  1. Wal-Mart to launch investment arm in e-commerce push
    channelnewsasia.com
    Wal-Mart Stores Inc, the world's largest retailer, will launch its first investment arm to expand its e-commerce business in partnership with retail start-ups, venture capitalists and entrepreneurs, the company said on…
    Business

REUTERS: Wal-Mart Stores Inc, the world's largest retailer, will launch its first investment arm to expand its e-commerce business in partnership with retail start-ups, venture capitalists and entrepreneurs, the company said on Monday.

The plan is being spearheaded by Marc Lore, Wal-Mart's e-commerce chief, who joined the Bentonville, Arkansas-based company from retail upstart Jet.com, which it acquired for more than US$3 billion in August.

Since then, Wal-Mart has acquired three small web retailers to add urban and millennial shoppers.

The venture, called Store No. 8, will work with startups that specialize in areas that include robotics, virtual and augmented reality, machine learning and artificial intelligence, Lore said at Shoptalk, a retail conference in New York. It will be based in California's Silicon Valley, he…

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