Jet.com eCommerce Startup Launches

Competition for the space Amazon resides in is getting fiercer.  I've been a beta tester of the new eCommerce site Jet.com for a few months now and see a path to its success.  The CEO does as well but it will require $20B in annual sales.

Yes that is a 'B'.

Here is news of the launch:

http://recode.net/2015/07/21/jet-com-will-launch-with-amazon-prices-front-and-center/

Here is a snippet from that piece:

Jet, the new shopping site that launches on Tuesday, promises shoppers “the lowest prices on everything.” To hammer home the point, the online mall will compare its price with Amazon’s price on every one of its product pages.

As a way to prove its marketing promise, Jet tested its service with some customers who were given early access by showing its prices against those found on multiple competing websites. But after some people were confused by the appearance of the various competitors, Jet has decided to show its prices against just one competitor, Amazon, which typically has very low prices.

“So it’ll be very easy for customers to understand that savings means savings compared to Amazon,” Jet CEO Marc Lore said of the changes in an interview on Monday. “They’re clearly the dominant player, so they’re a great reference point.”

Here is a story with the comments by the CEO:

http://www.cnbc.com/2015/07/21/our-prices-are-cheaper-than-amazon-jetcom-ceo.html

Here is a snippet from that piece:

New Jersey-based Jet—which raised $225 million in four rounds of funding, according to CrunchBase—hopes to reach $20 billion in revenue and 15 million users by 2020, a level Lore considers "economically viable."

Happy Reading,

J.W. Gant