On Wednesday July 26, 2017, Wal-Mart crossed a major threshold, going above $79.00 for the first time since the announcement of the acquisition of Whole Foods Markets (WFM) by Amazon.
Jet.com, an online retailer startup has agreed to be bought by the retailer giant Wal-Mart in a deal valued at $3.3 billion. Wal-Mart had been trying to break into e-commerce, from its traditional brick-and-mortar retail business for more than a decade. Since 2000, Wal-Mart has been trying to build an on-line presence, with Walmart.com, and hired online executives, such Neil Ashe. It built its own e-commerce to compete against the leaders, especially Amazon. Amazon's growing
Tim Cook sits with CNBC Mad Money Jim Cramer and shares his thoughts in this video:
Amazon CEO Jeff Bezos talks about the successes and failures of Amazon in its early years. He admits making billions of dollars in failures. But is worth it, hence, according to him, these led to even more billions of successes. Ranked top CEO in 2014, he is now ranked 87th.