Walmart is the largest retailer in the world, operating over 11,000 stores worldwide. It was founded in 1962 by Sam Walton and pioneered the use of large stores located in suburbs selling a variety of goods at low prices. Walmart revolutionized the retail industry and became highly successful by keeping costs low and passing the savings on to customers in the form of "everyday low prices." Today, Walmart remains family-owned and continues to focus on low prices while also expanding into e-commerce and international markets. It employs over 2 million people worldwide, making it one of the largest private employers.