Walmart Shuts Down Jet.com
Just what is Jet?
Jet.com is an online retailer offering discounted prices on a wide variety of products, and its profits derive from annual subscription fees that members pay. Using algorithms, prices change in real time depending on the combination of products in the customer's shopping cart.
U.S. superstore Walmart purchased the company four years ago. Yesterday, the reail giant deemed the online shopping site designed to compete with Amazon to be passe'.
Translation: Who needs to compete when you're one of the two biggest in the business? A quick look at the Jet site shows it still up and running; however, if you wish to try it, you might want to do so now. Walmart marches on.