Walmart promises to buy more tech startups

Walmart's (NYSE: WMT) CEO Doug McMillon plans to accelerate the company's pace of acquisitions to better compete with digital rivals.

The chief executive spoke on Wednesday at Re/code's Code Conference, explaining that the retailer could be looking for more companies and digital strategists to partner with.

"We've been more acquisitive lately, especially for talent," McMillon said. "And our pace of acquisitions, I think, is going to accelerate."

Walmart has already been fairly active in acquiring Web companies through its research division @WalmartLabs, which has made 12 small acquisitions over the past few years. Earlier this month, the company bought Adchemy, an advertising technology company for online retailers, for an undisclosed amount.

McMillon also spoke about grocery delivery, a new territory for Walmart. Walmart in February purchased Yumprint, a company that publishes a network of recipes for food blogs, and will incorporate the technology into Walmart To Go. The Seattle-based startup offers a mobile app and website which posts more than 15 million recipes per month curated from over 2,000 food blogs.

"We don't know exactly which geographies it'll work in," said McMillon referring to the company's grocery delivery service.

Looking ahead, McMillon also said the chain might one day use 3-D printers for producing supplies.

"3-D printing is interesting to me. We can use 3-D printing over time for replacement parts," McMillon said.

Walmart is picking up steam in its omnichannel efforts with several Web expansions in order to continue growing the e-commerce business. Walmart reported Web sales rose by 30 percent to $10 billion, during the year ended Jan. 31, beating Amazon's 20 percent sales growth during the year ended Dec. 31. It was the first time Walmart saw Web sales growth beat out Amazon's in more than a decade.

For more:
-See this Re/code article

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