Wal-Mart has agreed to buy fast-growing online retail newcomer Jet.com, which had launched with a splash a year ago when it announced its intention to challenge online leader Amazon.
Wal-Mart is paying $3 billion in cash and another $300 million in stock.
The deal announced Monday underscores how serious Wal-Martis about igniting its online business, which has been slowing even as it has been making big investments in new distribution centers and expanding services.
