Marc Lore, CEO of Walmart eCommerce U.S., on Tuesday discussed the company’s plans to launch a new venture, called “Store No. 8,” which will operate as a Silicon Valley incubator for new online stores. The move reflects Walmart’s ambition to catch up to Amazon in the e-commerce retail space. Lore unveiled the plans at the annual Shoptalk conference in Las Vegas. Lore took the helm of Walmart’s e-commerce business after Walmart acquired Jet.com, the company he cofounded. ore Walmart acquisitions are in the works, he said.
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Walmart Launches ‘Store No. 8′ E-Commerce Venture