Jet.com
American e-commerce company / From Wikipedia, the free encyclopedia
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Jet.com was an American e-commerce company headquartered in Hoboken, New Jersey. The company was co-founded in 2014 by Marc Lore (who had previously sold Diapers.com to Amazon.com), along with Mike Hanrahan and Nate Faust. Jet.com raised $820 million over four venture rounds from GV, Goldman Sachs, Bain Capital Ventures, Accel Partners, Alibaba Group, and Fidelity.[4] The website was formally launched in July 2015.[5][6] In September 2016, it became a subsidiary of Walmart.[7]
Type of business | Subsidiary |
---|---|
Type of site | E-commerce |
Founded | April 2014; 10 years ago (2014-04) |
Founder(s) | Marc Lore Nate Faust Mike Hanrahan |
Key people | Marc Lore (President, CEO of Wal-Mart Global e-Commerce, USA) |
Industry | Online shopping |
Employees | 1,000–5,000 (July 2016) |
Parent | Walmart |
URL | jet |
Current status | Closed as of June 4, 2020 |
[1][2][3] |
In June 2019, in the wake of slumping sales through the Jet.com site in the period following the acquisition,[8] the majority of Jet.com employees were transferred to work on the Walmart.com site and Simon Belsham, the president of Jet.com, stepped down.[9] On May 19, 2020, Walmart announced that it was shutting down Jet.com,[10] which they did on June 4, directing visitors to use Walmart.com instead.[11][12]