Walmart: A possible spinoff, selloff or partnerships for Jet Black
today Oct 1, 2019
Walmart’s text-to-order business, JetBlack, is gaining the attention of outside firms, according to Bloomberg.
The same-day delivery service, where customers can place orders using a text message, could potentially see an outside partnership, spin off or be completely sold, the report said.
Launched in New York in May 2018, the only city where the service is still currently live, JetBlack allows shoppers to order items from Walmart.com and even rival retailers.
The service, which is available with a monthly membership fee of $50, gives members access to personal shoppers who will offer recommendations when a person texts. It also reminds shoppers via text message if they are about to run out of a product they already ordered.
Part of Walmart’s internal start-up incubator, Store No. 8, JetBlack was spearheaded by Rent the Runway co-founder, Jenny Fleiss, who joined Walmart in 2017.
Walmart has been growing its portfolio with acquisitions such as Jet.com, which it acquired in 2016, and brands like Bonobos and ModCloth.
Walmart did not initiate any of these talks with outside parties, Bloomberg said, while also mentioning that talks are preliminary.
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