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Wal-Mart in Talks to Buy Online Retailer Jet.com, Says WSJ

Wal-Mart is in talks to buy online retailer Jet.com, the Wall Street Journal reported, citing people familiar with the matter.

It was not clear how much Wal-Mart would pay, but Jet could be worth as much as $3 billion, the WSJ said. Jet's warehouses and customer data would help Wal-Mart in its push to expand its online business and home delivery services.

Marc Lore launched Jet in July last year, promising big discounts in exchange for members placing large orders and paying an annual fee.

Jet, considered a close competitor to Amazon and Wal-Mart, was not available for comment.

Lore in 2010 sold his diapers-to-soap e-commerce firm Quidsi to Amazon for $540 million.