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  "documentTitle": "2017 Bond Cap Internet Trends 2017",
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  "notes": "The chart shows a clear inflection point following the acquisition of Jet.com in 8/16.",
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      "text": "Recent Acquisitions & Investments: Modcloth.com, 3/17; Moosejaw, 2/17; JD.com (Increased to 12%), 2/17; Shoebuy, 1/17",
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      "text": "Organic + Inorganic Growth: FQ1:18 eCommerce Revenue Growth @ 63% Y/Y vs. 29% FQ4:17, USA",
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      "text": "90% of Americans Live Within 10 Miles of a Wal-Mart",
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      "text": "Source: Wal-Mart. Note: Fiscal year ends January. Wal-Mart stopped disclosing global eCommerce revenue growth after FQ4:17 and began disclosing USA eCommerce revenue growth.",
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      "text": "...World’s Largest Offline Retailer (Wal-Mart)... Getting Aggressive Online...",
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