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Wal-Mart buys delivery logistics startup Parcel

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Wal-mart Stores Inc. said on Tuesday, it has gained Parcel Inc, a New York-based last-mile conveyance or delivery startup, as the retailer looks to better compete with e-commerce business mammoth Amazon.com Inc.

Parcel, an every minute of everyday operation that conveys parcel that day, overnight and in planned two-hour windows, was purchased for an undisclosed sum “lesser than past acquisitions” Wal-Mart made for the current year, the markdown retailer said.

“We intend to use Parcel for last mile conveyance to clients in New York City – including same-day conveyance – for both general stock and also crisp and solidified basic supplies from Walmart and Jet,” Wal-Mart said in a blog post.

Wal-Mart said in June it would purchase online men’s mold retailer Bonobos Inc for $310 million, around the same time Amazon divulged a $13.7 billion arrangement to purchase upmarket merchant Whole Foods Market Inc.

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