Marc Lore, who previously sold Diapers.com parent company Quidsi to Amazon for more than $500 million, has now raised a fresh $25 million for Jet.com, bringing total funding for his new shopping site to $80 million before it has launched. Jet.com previously raised $55 million from New Enterprise Associates, Accel Partners, Bain Capital Ventures and MentorTech Ventures. While Lore has kept most details of Jet.com private, sources previously told Re/code that the site hoped to undercut Amazon and other competitors on pricing by dynamically pricing products based on how close they are to the buyer. Jet.com is expected to launch next year.
Diapers.com Founder Has Now Raised $80 Million for New Amazon Competitor Jet.com
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.
