The $67 million investment in Allopneus will help Michelin better understand online tire buyers, the tire maker says.
The big-box retailer will hire 500 employees to focus on @WalmartLabs, its e-commerce innovation arm.
Wal-Mart Stores Inc. will hire about 500 employees at its new Sunnyvale, CA, location. Those employees will focus on global e-commerce, specifically @WalmartLabs, Wal-Mart’s e-commerce innovation arm. The new hires will bring the location’s total employee count to 1,000.
Walmart.com is No. 4 in the 2014 Internet Retailer Top 500 Guide, with an estimated $10.03 billion in 2013 web sales.
@WalmartLabs has been buying up tech companies, including product search firm Adchemy, web site acceleration firm Torbit and predictive analytics firm Inkiru. In three years, Wal-Mart has acquired 12 technology companies.
Wal-Mart opened the Sunnyvale location in February. A Wal-Mart spokesperson says the company is exploring options for expanding the office.