Jet.com
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. The website was formally launched in July 2015. In September 2016, it became a subsidiary of Walmart.
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| Type of business | Subsidiary |
|---|---|
Type of site | E-commerce |
| Founded | April 2014 |
| 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 |
In June 2019, in the wake of slumping sales through the Jet.com site in the period following the acquisition, 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. On May 19, 2020, Walmart announced that it was shutting down Jet.com, which they did on June 4, directing visitors to use Walmart.com instead.