Shelly Banjo, Columnist

Meet Walmart's $3.3 Billion Employee

Jet.com founder Marc Lore could finally solve the retail giant's e-commerce problems.

August 8, 2016 at 3:55 PM UTC

Shelly Banjo leads the global business team for Bloomberg News in New York. A former New York bureau chief and senior tech writer, she’s covered business, finance and economics for two decades.

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Walmart's making an exception to its "Everyday Low Prices" rule.

The world's biggest retailer announced on Monday it was buying upstart online retailer Jet.com for $3 billion in cash, plus $300 million in stock over five years -- topping QVC's $2.4 billion purchase of Zulilly.com last year as the largest-ever acquisition of an e-commerce company.