Randy Hofbauer, EnsembleIQ
In the wake of Wal-Mart Stores Inc. s move to acquire Jet.com for $3 billion in cash, along with $300 million of the Bentonville, Ark.-based retailer s shares, the burning question on many observers minds is how effectively the pricey deal will enhance the world s largest conventional retailer s position as a competitor of Seattle-based e-commerce leader Amazon.com?
The infusion of an experienced leadership team led by Jet.com s co-founder/CEO Marc Lore, and fellow co-founders Mike Hanrahan and Nate Faust is a foremost victory, notes Mike Elmgreen, CMO of New York-based Handshake, a B2B commerce platform provider. The talent being acquired and [Jet.com s] deep knowledge of e-commerce will be invaluable assets as Walmart attempts to grow its online business to better compete with Amazon,” Elmgreen affirms.