Walmart In Talks To Buy Jet.com: DJ

(RTTNews) - Wal-Mart is in talks to acquire Jet.com, an online discount retailer, according to Dow Jones citing people familiar with the matter.

Although, no financial aspects of the deal has been disclosed, reports suggest that the website could be valued at up to $3 billion.

If completed, the acquisition would help Walmart challenge Amazon's dominance in the e-commerce market.

Jet.com, which sells household goods and groceries, has been growing rapidly since its launch a year ago. The company has been able to add about 350,000 customers per month by offering cheaper prices than Amazon and free shipping on all orders over $35.

Jet has been able to raise over $500 million in capital from New Enterprise Associates and Accel Partners, mutual-fund company Fidelity Investments and bank Goldman Sachs Group Inc.