Arash Christopher Eslami's Blog

arashace1

E-commerce Site Jet Raises Another $140M


TechCrunch

jetSuper-trendy e-commerce site Jet has raised an additional $140 million in funding. In an email to TechCrunch, the company confirmed that it has pulled in a new round led Bain Capital Ventures, with additional participation from Accel Partners, Coatue, General Catalyst, Goldman Sachs, Google Ventures, MentorTech Ventures, NEA, Norwest Venture Partners, Silicon Valley Bank, Temasek, Thrive Capital and other investors.

In an accompanying press release, the startup said the funding will help Jet “deliver on our core promise of radical price innovation in e-commerce.” In other words, they now have more room to undercut Amazon and other sites on price.

Here’s how co-founder Marc Lore describes Jet’s model for cutting prices:

Jet is able to dynamically adjust prices in real time in response to the unique composition of a shopper’s basket, always maximizing for cost-savings. Customers are seamlessly guided towards orders that are economically more efficient to fulfill. And because Jet…

View original post 54 more words

Advertisements

Single Post Navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: