Wal-Mart Stores agreed to buy e-commerce startup Jet.com for about $3.3 billion, potentially allowing the world’s largest retailer compete with market leader Amazon.com. The deal includes $3 billion in cash and $300 million in shares that will be paid over time, the world’s largest retailer said Monday in a statement. Acquiring Jet.com, which achieved a $1 billion gross merchandise run rate in a little more than a year, gives Wal-Mart a website that processes an average of 25,000 orders a day and is adding 400,000 shoppers monthly.

Amazon.com has dominated e-commerce in much the same way that Wal-Mart has ruled brick-and-mortar retail.