And Walmart, whose e-commerce grew 63% last quarter, is looking to keep pace with Amazon, whose Prime members can get free two-hour delivery on a limited assortment of goods, as well as same-day delivery for free on many items. He noted that Parcel has partnerships with several meal kit, grocery and e-commerce companies.
Walmart has sought to leverage its way into e-commerce through a string of acquisitions.
"But I see even more upside for our own same-day deliveries".
Wal-Mart is testing a number of delivery solutions as it tries to provide convenient options for customers as it competes with retailers such as Amazon.com and Target Corp.
Jet.com, which Walmart bought a year ago for US$3.3bn, says the brand, called Uniquely J, will cater to the needs of young urban adults, so-called 'metro millennials'. Jet has been testing same-day delivery in NY, and Parcel will become the vehicle for that service's expansion.
Greek court backs extradition of BTC-e's alleged owner to US
US authorities also accuse him of laundering funds obtained from the 2014 collapse of the Japan-based exchange Mt. Russia's Prosecutor-General's Office requested Vinnik's extradition to Russian Federation .
While the two companies did not disclose the terms of the detail, Recode reported that a source familiar said that Wal-Mart paid $10 million to acquire Parcel, and Wal-Mart noted in a fact sheet for the deal that the price was "smaller than previous acquisitions we've made this year".
"Our immediate plan is for Parcel to continue serving its existing clients and growing its customer base", Mr. Faust said. From a warehouse in Brooklyn, Parcel receives packages destined for customers throughout New York City.
From a demographic point of view, New York City has great strategic value to both Walmart and Jet.com because it's one of the most densely populated areas in the United States and represents a key market. In a statement, Walmart says it plans to use parcel to help with the final steps in getting its merchandise to its New York City consumers.
Wal-Mart now offers grocery pick-up service at hundreds of stores nationwide and recently began testing same-day delivery at a handful of stores. The startup has also compiled a database of every New York City building it has delivered to, including photos and detailed information on service entrances.
It operates around the clock, and gives customers real-time updates on their order status via text.