Add to cart: Walmart buys Jet.com for $3.3 billion

If you have $3.3 billion lying around, why not buy a startup?

That is exactly what Walmart is doing. The retail giant is buying two-year-old e-commerce startup Jet.com in an attempt to invigorate its online sales division. Walmart is dropping a lot of money on this deal, but it hopes to get a lot in return. 

In IT Blogwatch, we hit 'buy' now.

What are the deal's details? Erika Morphy gives us the background:

Walmart...is...buying Jet.com, an e-commerce site...for the tidy sum of $3.3 billion, $3 billion of which will be in cash, to augment its own online sales operations.
...
Jet.com's customer base does not align with Walmart's customers, which could be a point in the deal's favor...only a fifth of Jet.com buyers have purchased from Walmart.com in the most recent 6-month period.

Millions of people have bought items from Jet.com, but it may not be an household name for everyone. So what do we know about the e-commerce site? Jason Del Rey fills in the blanks:

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