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Jet.com

Acquired

Walmart | Save Money. Live better.

E-Commerce
Retail
Headquarters
Hoboken, New Jersey
Employees
1001–5000
Founded
2014
Business Model
B2C
Website
jet.com
Total Funding
$885.0M
Last Round
$350.0M Series BNov 2015
Rounds
5

About

Jet.com was an American e-commerce company co-founded in 2014 by Marc Lore, Mike Hanrahan, and Nate Faust, headquartered in Hoboken, New Jersey. The platform pioneered a real-time dynamic pricing algorithm that adjusted cart prices based on distribution center proximity, payment method, and return policy waivers — passing cost savings directly to consumers. Jet.com raised $820 million from investors including GV, Goldman Sachs, Bain Capital Ventures, Accel Partners, Alibaba Group, and Fidelity before being acquired by Walmart in September 2016 for $3.3 billion. The acquisition positioned Walmart to compete more aggressively with Amazon in e-commerce. Jet.com was shut down on June 4, 2020, with traffic redirected to Walmart.com.

Summary

Jet.com is an E-Commerce company based in Hoboken, United States, founded in 2014. It has raised $885.0M in total across 5 rounds, most recently a $350.0M Series B round in Nov 2015. Investors include Accel, Fidelity Management & Research and Norwest VP.

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Funding History

AcquisitionAug 2016
$3.3B

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Investors

Accel

2 rounds

Fidelity Management & Research

1 round

Norwest VP

1 round

Primary VC

1 round

Coatue Management

1 round

General Catalyst

1 round

GV

1 round

Thrive Capital

1 round

Western Technology Investment

1 round

Forerunner Ventures

1 round

CRV (Charles River)

1 round

NEA

1 round

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