Wal-Mart Set To Launch New Online Business In Silicon Valley

Wal-Mart is making strides in its pursuit to be a leader in ecommerce. Wal-Mart executives announced Monday they will be developing "Store No. 8" in Silicon Valley in hopes of making improvements to its online retail experience. Store No. 8 will experiment with autonomous vehicle and drone delivery, virtual reality and personalized shopping. Last summer, Wal-Mart purchased Jet.com, an online retailer, for $3.3 billion in an effort to compete with Amazon, the dominant force in online shopping. Marc Lore, founder of Jet.com joined Wal-Mart's ecommerce team following the purchase.