Jet.com, the Amazon rival owned by retailing giant Walmart, bought online footwear retailer ShoeBuy for $70 million, the company said Thursday.
The move underscores Walmart's continued push against Amazon, owner of online shoe store Zappos. The biggest retailer in the world, Walmart made online expansion its priority last year, taking over Jet for $3.3 billion and setting up a plan to invest billions more into e-commerce while cutting down new store openings.
Medium CEO and Twitter co-founder Ev Williams says a "broken system" of ad-driven media on the internet led to the pullback.
Medium CEO Ev Williams said the publishing platform will close its New York and Washington DC offices.
Photo by Mike Windle/Getty ImagesMedium, the web-publishing site run by Twitter co-founder Ev Williams, is laying off a third of its staff because ad-supported digital media is a "broken system," Williams said in a blog post Wednesday.