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Walmart Will Shut Down

Photo Credit: Mike Mozart via Flickr cc

In 2016, Walmart acquired for $3 billion. Now, having integrated the team into its own, Walmart is discontinuing Jet entirely. Analysts say that the coronavirus and the stresses it has added to the retail business are partially responsible for the sudden move.

Of course, with the benefit of hindsight, there were a few signs that was not long for the world of Walmart. Besides integrating its team, Walmart also discontinued the unprofitable Jet experiment Jet Black just last year.

“Due to continued strength of the brand, the company will discontinue,” the company said in a short statement. “The acquisition of nearly four years ago was critical to accelerating our omni strategy.”

Read the full story at TechCrunch.