Jet.com, a well-funded discount online retailer that launched just over a year ago, is in talks to be acquired by Walmart in a deal that could value the company at up to $3 billion, according to The Wall Street Journal. Founded in 2014, Jet.com has raised $565 million in equity, including a $350 million investment late last year that brought its valuation to $1.4 billion. That funding comes from a who's who list of firms such as Accel, GV and New Enterprise Associates.
This news can be seen through a few different lenses. On one hand, if the rumored price tag of $3 billion is close to accurate, the acquisition would net a tidy return for the venture investors involved. That said, Jet.com has been touting itself as a competitor to ecommerce giant Amazon, and a sale just one year after launch is most likely not the outcome they hoped for.
Below is a breakdown of Jet.com's funding history, including valuations for previous rounds:
July 2014: $80M round/$152M valuation
March 2015: $5M round/$492.2M valuation
February 2015: $130M round/$525M valuation
November 2015: $350M round/$1.4B valuation
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