Jet: A Comprehensive How-To Guide for Omni-Channel SMBs Jet: A Comprehensive How-To Guide | Page 4

A Brief History of Jet.com & Walmart
Although Jet.com was only founded in 2014, it has already made waves
in the ecommerce world. As a fast-paced commodity ecommerce mar-
ketplace, Jet.com made its mark on the internet by providing consum-
ers with family and household-related items via a unique retail model.
The history of Jet.com starts with founder Marc Lore. Jet.com was
not Marc’s first forray into the ecommerce marketplace space; after a
substantial bidding war in 2010, Marc sold his first ecommerce com-
pany Diapers.com to Amazon. Subsequently raising the $820 million
USD venture capital funds necessary to start Jet.com, Marc founded
the marketplace upon a single, simple goal: create an online market-
place that allows consumers to buy everyday items in bulk, saving Jet.
com customers en masse, money.
What makes Jet.com stand apart from other ecommerce market-
places is their real-time search engine technology. When adding ev-
eryday products to your Jet.com cart -- like toliet paper or laundry
detergent -- Jet.com’s proprietary technology automatically applies
discounts. When purchasing bulk home items, the technology pro-
vides customers with discounts and suggests other on-sale related
items. Jet.com’s technology puts their customers saving money as
its first priorty.
Other competitive advantages of the Jet.com marketplace include
debit payment options, the ability for users to opt out of returns, and
no membership fee. Largely thanks to these unique features, Jet.com
resonates especially well with millennials. With an estimated growing
base of 40,000 new shoppers a month.
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