Moosejaw will be Wal-Mart's third acquisition in just over six months.
Walmart announced Wednesday that it had acquired Michigan-based company on February 13. In addition to its popular website, Moosejaw also maintains 10 physical stores throughout the Midwest, where customers stop in for outdoor apparel and gear for hiking, camping, yoga, and more. And Walmart first acquired for $3 billion in September 2016-the largest deal for an online startup, Reuters reports.
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Walmart, which is trying to better compete with online leader Amazon.com, says buying Moosejaw gives it the experience of another well-established e-commerce player with strong industry relationships. The outdoor retailer will continue to operate its site and stores as it has in the past. And the e-commerce giant is reportedly getting ready to sell its own athleisure lines. Shortly after the Shoebuy purchase, on January 13, Jet co-founder and former CEO Marc Lore, now the CEO of Walmart's US e-commerce division, combined the company's e-commerce operations into a single organization. It is looking for online sales growth of 20 to 30 percent in the second half of this year, and for even faster growth in the next few years.