Walmart, which owns Asda, saw its shares fall 10 percent this week following news that the company will grow just three to four percent over the next three years, with profit dropping 12 percent in 2017.
Chief Financial Officer Charles Holley blamed rising wages, and the increased cost of training staff. It’s not until 2019 that revenue will grow again.
Walmart is still bigger than Amazon in terms of revenue, but after 18 years, Amazon.com’s market value stands at $254.8 billion. Walmart this week managed to wipe more than $21 billion off its value, down to $213.9 billion.
This is where the cloud comes in. Walmart is creating WalmartOne, which runs on the open source OneOps cloud computing code.
OneOps is Walmart’s own cloud platform, with the company claiming it changed the way its engineers developed and helped shaped how Walmart launched new products to customers.
This week WalmartLabs said OneOps will be released to the world as open source, with the source code being uploaded to code repository GitHub by Christmas.
This means that Walmart is taking the fight to Amazon Web Services by giving developers a chance to avoid vendor lock-in, a situation in which companies are stuck to contracts and technologies supplied by one cloud provider.
King added that by making the platform open source, OneOps will drive competitors to “compete based on price, customer service and innovation.