Marc Lore, Walmart’s head of e-commerce, says the company will make more acquisitions going forward.
Walmart e-commerce CEO Marc Lore says the company will make more acquisitions
Under Lore, Walmart’s ecommerce division bought ModCloth, Shoebuy and Moosejaw.
“We’re being pretty active, yeah,” he told Recode Senior Editor Jason Del Rey at the Code Commerce conference at Shoptalk in Las Vegas.
“We’re behind,” he added. “We need to catch up.”
That’s remarkable given the string of companies he’s already snapped up. Lore was put in charge of Walmart’s online business after Walmart bought his company, Jet.com. He proceeded to acquire Moosejaw, an outdoor retailer; Shoebuy, a competitor to Zappos; and most recently online fashion retailer ModCloth. He had already acquired furniture site Hayneedle under Jet.com.
All told, he has spent more than $200 million buying e-commerce startups.
“We’re seeing what these acquisitions have done for the business,” he said. “It’s definitely a nice surge, so we will continue to do it.”
Separately, Lore announced a new product as part of Walmart: An app that allows customers to see an easy list of products it buys regularly.
“If you now go into a Walmart store and buy diapers, dog food, shaving cream ... you’ll see all those purchases” on a list that can be used when the customer makes future purchases.
“The average person will buy 100 different consumable products,” Lore explained. “Go online and try to find those precise 100 things that you’re looking for and build a list — it takes a really long time.”
Walmart will organize that list after you’ve bought them, he went on. “When you get home, it’s neatly organized right on the homepage — easy reorder.”
Easy.
This article originally appeared on Recode.net.
