Walmart agreed to buy online shopping site Jet for $3 billion, according to a statement from the company Monday.It's move to enhance the position of the world's largest retailer in its battle against web giant Amazon."Walmart.com will grow faster, the seamless shopping experience we’re pursuing will happen quicker, and we’ll enable the Jet brand to be even more successful in a shorter period of time," Walmart president and CEO Doug McMillon said in a statement.Jet bought the Omaha-based furniture e-retailer Hayneedle earlier this year for an undisclosed amount. Hayneedle had an estimated $404 million in sales in 2014, according to retail blog RetailDive.Hayneedle employs at least 500 people at its Omaha office and warehouses across the country, according to the company's LinkedIn profile.Walmart and Jet will maintain distinct brands, according to the statement Monday. Walmart.com will focus on delivering the company’s 'Everyday Low Price' strategy, while Jet will continue to provide a unique and differentiated customer experience with curated assortment.The two companies said they will "leverage innovative technology solutions to develop new offerings to help customers save time and money."

Walmart agreed to buy online shopping site Jet for $3 billion, according to a statement from the company Monday.

It's move to enhance the position of the world's largest retailer in its battle against web giant Amazon.


"Walmart.com will grow faster, the seamless shopping experience we’re pursuing will happen quicker, and we’ll enable the Jet brand to be even more successful in a shorter period of time," Walmart president and CEO Doug McMillon said in a statement.

Jet bought the Omaha-based furniture e-retailer Hayneedle earlier this year for an undisclosed amount. Hayneedle had an estimated $404 million in sales in 2014, according to retail blog RetailDive.

Hayneedle employs at least 500 people at its Omaha office and warehouses across the country, according to the company's LinkedIn profile.

Walmart and Jet will maintain distinct brands, according to the statement Monday. Walmart.com will focus on delivering the company’s 'Everyday Low Price' strategy, while Jet will continue to provide a unique and differentiated customer experience with curated assortment.

The two companies said they will "leverage innovative technology solutions to develop new offerings to help customers save time and money."