Skip to navigationSkip to content

Walmart is putting’s founder in charge of its battle against Amazon in the US

Salad dressings are displayed at a Walmart store in Secaucus, New Jersey
Reuters/Lucas Jackson
The future is about porting this experience online.
  • Joon Ian Wong
By Joon Ian Wong

Technology Reporter

Published This article is more than 2 years old.

Walmart is riding high. It just beat analyst estimates with its second-quarter earnings, sending its stock up nearly 3% in early trading.

The world’s largest retailer by revenue also raised its projected results for the year despite revealing that those profits would be dented to pay for the $3.3 billion acquisition of e-commerce retailer, which was announced last week (Aug. 8). The deal is expected to close in the fourth quarter of the year.

A big part of Walmart’s future rests on its ability to compete against e-commerce players, specifically Amazon. And that’s down to Marc Lore,’s founder. It was announced during today’s call that he’s been named president and chief executive of e-commerce at Walmart.

Lore’s new role means he’ll be in charge of both the brand, which will continue to operate, and Walmart’s e-commerce functions, in the US. He will report directly to Walmart’s president and chief executive, Doug McMillon. “Marc is a passionate merchant and innovative thinker who will definitely add value to our business. I look forward to working with him,” McMillon told investors on the call.

Lore knows Amazon well, selling his firm Quidsi, which owned and other niche retail sites, to Jeff Bezos’ company for $545 million in 2011. He left Amazon after two years to once again take it on as a competitor. After raising more than $800 million in funding for Jet, but apparently failing to gain the scale he said was required (paywall) to validate its business model, he found a savior in Walmart. Recode reported that he could earn as much as $750 million from the sale.

Current Walmart e-commerce chief Neil Ashe will be eased out, just months after being named head of technology. The online media veteran, who ran CNet and CBS Interactive, had been with Walmart for four years, and will be with the company through the end of its fiscal year. Ashe led talks between Walmart and, which saw the US retailer take a 5% stake in the Chinese e-commerce giant. also took control of Walmart’s Chinese e-commerce platform as part of the deal, which was announced in June.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

By providing your email, you agree to the Quartz Privacy Policy.