‘Jet is in a fight for the future of e-commerce’: E-commerce legal experts
Jet has an uphill battle to fight with Amazon and the likes of Amazon and eBay in the e-tailers space, as e-discovery companies continue to be hit hard by the market collapse and competition from cheaper competitors.
The e-mail and mobile technology company has been under fire in recent months as it struggles to compete with Amazon, which is offering more than 20 per cent off on many products.
Jet says it has been in talks with Amazon for some time, but that the company has not yet made an offer.
“It’s a long process, but we have been in discussions with them for some months,” a spokesman said.
The spokesman said Jet is confident that its e-store will be available for consumers in the foreseeable future.
Jet said it was in talks to acquire the ecommerce platform ecommerce.com, but it would not provide details about its acquisition plans.
“We are in discussions to acquire ecommerce and want to provide the best possible product experience to our customers,” he said.
“At the same time, we have to maintain our long-term strategic direction and we will continue to make progress in that direction.”
Jet was acquired by ecommerce giant Amazon for $970 million in January last year.
Amazon, which has been struggling with the decline in the market, has been a major player in the space for some years, taking over Jet in 2015.
The company’s dominance in the global e-retailing sector was challenged in 2018 when the eCommerce.com marketplace, owned by Alibaba Group, announced plans to shut down its online marketplace, Jet.
Amazon’s takeover of Jet has also made it one of the world’s largest e-book sellers, which also includes e-books and e-readers.
While Jet’s e-reader business is still struggling to survive, the company is in talks about buying a chunk of its ecommerce business.
Jet declined to comment on the sale of its online business, but said it has no plans to change its strategy.
The latest blow for Jet comes a week after Amazon took over the US online retailer Kiva, a deal that will see the ecom-based firm acquire the company’s retail businesses in the US and Europe.
Amazon has been trying to grab the ebooks business, which it owns a stake in, with plans to make it easier for people to buy and read them online.