Jet.com
AcquiredWalmart | Save Money. Live better.
- Headquarters
- Hoboken, New Jersey
- Employees
- 1001–5000
- Founded
- 2014
- Business Model
- B2C
- Website
- jet.com
- Total Funding
- $885.0M
- Valuation
- $1.4BNov 2015
- 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.
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