Tech & Logistics

Walmart nabs another big online player


Walmart is trying to close the gap with Amazon by adding another big online retailer to its portfolio.  

By Gina Acosta

PrintWalmart nabs another big online player
Walmart nabs another big online player

According to jezebel.com, Walmart has inked a deal with Modcloth, an eclectic women's fashion brand known for serving curvy customers.

The acquisition is the latest in a spate of purchases by Walmart.Last year the company acquired Jet.com for $3.3 billion. Shortly after, Jet purchased Shoebuy for $70 million. And last month, Walmart grabbed outdoor apparel retailer Moosejaw for $51 million.

The acquisition strategy opens Walmart up to a new set of shoppers. Jet's typical customer, for example, is younger, more urban and more affluent than a traditional Walmart shopper. The same is true for Moosejaw and Modcloth.

Modcloth sells merchandise from independent designers. The company had previously raised nearly $79 million in seven rounds of funding, according to Crunchbase.