Amazon to acquire Target?
Is the mammoth Internet company targeting the second-largest discount retailer in the U.S?
A prominent tech analyst has made a huge prediction about the future of Amazon.
According to a report from Fortune, Gene Munster, co-founder of Loup Venture, speculates that Amazon will acquire Target Corporation in 2018. The theory comes with substantial implications for the U.S. economy as Target is the second-largest discount retailer in the country (behind Walmart).
The prediction seems appropriate considering Amazon will soon expand its presence by opening a second North American headquarters. In 2017, the Seattle-based Internet company began the search for potential locations through a bidding process. A decision has yet to be made.
Amazon will invest billions of dollars into the new location. The company expects the headquarters will create about 50,000 jobs.
Philadelphia is one of the 238 cities to submit a proposal for Amazon's second headquarters. To highlight Philadelphia's compatibility with the project, the city ran a campaign (#PhillyDelivers) before the submission deadline in October to promote Philadelphia's livability, diversity, talent pool and global connectivity.