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Why Walmart and Jet.com definitely belong together | Recode Daily: August 4, 2016

A $3 bilion acquisition deal is reportedly in the works.

Marc Lore (bottom left) and some of the Jet.com team in 2015
Marc Lore (bottom left) and some of the Jet.com team in 2015
Shin Woong-jae / The Washington Post via Getty

.Last year Diapers.com founder Marc Lore launched Jet.com with big plans to take on Amazon. But now the Wall Street Journal says Jet is talking with Walmart about a $3 billion acquisition. This makes too much sense not to happen: Walmart could use Jet's talent and pricing prowess, and Jet needs a buyer with deep pockets.
[Jason Del Rey | Recode]

.Tesla had a busy second quarter: It acquired SolarCity, handled a PR crisis after a fatal car crash involved Tesla's self-driving technology and cut ties with a major supplier. In its earnings report yesterday, the company missed expectations by a bit, but said it expects to meet its 2016 shipment goals, so its stock didn't really move much.
[Johana Bhuiyan | Recode]

.On the heels of Didi Chuxing's and Uber's truce in China, Singaporean ride-hailing startup Grab is preparing to raise another $1 billion from a group of investors that includes Didi and SoftBank. Southeast Asia is a big growth market for Uber, and Uber's relationship with Didi is getting even more complex.
[Newley Purnell, Juro Osawa and Rick Carew | The Wall Street Journal]

.On the new Recode Media podcast, Peter Kafka chats with Genius co-founders Ilan Zechory and Tom Lehman about why their startup no longer deserves the bro-y rep it had earlier on, and why visual "annotation" is a worthwhile business bet.
[Eric Johnson | Recode]

.Twitter and its stock have continued to eat dirt since Jack Dorsey took over as CEO last year, but Dorsey's other company, Square, is doing just fine. The company reported better-than-expected earnings yesterday, and its stock shot up more than 15 percent.
[Ezequiel Minaya | The Wall Street Journal]

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This article originally appeared on Recode.net.

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