Walmart  (WMT - Get Report) is hell-bent on sticking around and not going the way of Macy's (M - Get Report) or other brick-and-mortar companies that have fell victim to the burgeoning world of e-commerce and the likes of Amazon (AMZN - Get Report) .

In its latest move to stay relevant in the world of e-commerce the company announced Thursday, Jan. 5, that it would buy online shoe seller Shoebuy.com from Barry Diller's IAC/InterActiveCorp (IAC - Get Report) for $70 million.

Shoebuy.com will be added to Walmart's recently acquired e-commerce unit, Jet.com. The acquisition follows Jet's purchase of online furniture retailer Hayneedle for a reported $90 million in February.

Walmart shares ticked up 0.1% to $69.13 in Thursday morning trading, while IAC shares shares rose 0.9% to $68.82.

"Jet will gain the experience of a well-established e-commerce player in the footwear industry, who has transformed the online shopping experience for millions of customers," Walmart said in its statement. "ShoeBuy brings access to a large assortment of products, strong industry relationships, and rich content that will further enhance our customer experience."

Walmart also said that ShoeBuy suppliers who want to sell on Jet "will have that option."

Jet, a highly-touted startup that said it planned to reach a valuation of $20 billion by 2020, sold to Walmart in a $3.3 billion deal which closed on Sept. 19 as the discount retailer plays catchup in its e-commerce business. Jet co-founder and former CEO Marc Lore now heads Walmart's e-commerce business, with Recode reporting that Lore will receive up to $1 billion in cash and stock and will remain at Walmart for at least five years.

In another e-commerce effort, Walmart bought China's Yihaodian in a deal valuing the service at $1.55 billion, only to flip the company to Chinese e-commerce giant JD.com  (JD - Get Report) last summer in return for a 5% stake in JD.com worth about $1.46 billion.

Walmart also reportedly was in talks last fall to buy or invest in India's largest e-commerce company, Flipkart, although India's Economic Times subsequently wrote that plans for Walmart to invest between $750 million and $1 billion for a minority stake had hit a snag.

The effort may be slowly paying off. Walmart reported in its Nov. 17 2017 third quarter earnings release that e-commerce sales rose 20.6% year-over-year, while total sales rose 2.5%. Still, e-commerce accounted for a tiny fraction of Walmart's total quarterly revenue of $120.3 billion.

Boston-based ShoeBuy was acquired by IAC in 2006 for undisclosed terms, although the Boston Globe reported that the sale price was above $60 million. Venture capital backers included Apex Venture Partners and Tudor Ventures, who led a $9 million Series B round in 2004.

ShoeBuy never took off like competitor Zappos.com, although both companies were founded in 1999. Amazon.com paid $847 million for Zappos in 2009. Another online shoe retailer, Ebuys, sold to DSW (DSW) last year in a deal valued at up to $117.5 million.

TheStreet sister publication The Deal reported in 2015 that IAC could look to unload ShoeBuy, with a source cautioning that the company is "a stale website" and hasn't "evolved into the format people who consume that kind of content are used to consuming."

Walmart said in a statement that the deal closed Dec. 30 and that ShoeBuy's management team, led by CEO Mike Sorabella, would continue to lead its 200-employees at its Boston headquarters as part of Jet's e-commerce operation.

Walmart shares ticked up 0.1% to $69.13 in Thursday morning trading, while IAC shares shares rose 0.9% to $68.82.