Walmart’s E-Commerce Expansion Fueled by Acquisitions
Walmart (NASDAQ: WMT) acquired Jet.com for $3.3 billion in August 2016, marking the largest e-commerce acquisition at that time. Initially met with skepticism due to Jet’s financial struggles, the acquisition provided Walmart access to Marc Lore, a key figure with insider knowledge of Amazon’s operations. By integrating Jet and later acquiring a 77% stake in Flipkart for $16 billion in 2018, Walmart expanded its online inventory from 8 million to over 35 million items within a year, with U.S. e-commerce sales growing 29% in 2017 and 63% in early 2018.
According to Walmart’s Q3 FY26 release, global e-commerce revenue rose by 27% for the seventh consecutive quarter, with online sales surpassing $150 billion for the first time in fiscal year 2026. Walmart Connect, the company’s advertising division, achieved $6.4 billion worldwide in 2025, growing 46% year-over-year. This growth rate is significantly higher than Amazon’s 22% in the same period, signaling that Walmart may have more potential for growth in the advertisement sector.
