Can Jet tackle Amazon?


In 2010, Amazon acquired Quidsi, the ecommerce company behind and for $550 million. Now Quidsi co-founder Marc Lore is back with a new ecommerce startup called In July, Jet was able to raise $55 million from New Enterprise Associates, Accel Partners, Bain Capital Ventures and MentorTech Ventures. The deal was said to have valued Jet at more than $100 million.

Today, the company received an additional $25 million in growth capital, closing its Series A round at $80 million. Details about how Jet will distinguish itself from other ecommerce sites are still not clear, but Marc Lore promises that it will be a “new kind of ecommerce experience” that will be “uniquely grounded in transparency and customer empowerment.” Analysts are sure that Amazon will be keeping an eye on Jet when it launches in 2015. There are only a handful of people in the world who understand the key cogs of the Amazon machine, and Marc is one of them.

Read about’s funding here.

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