Jet.com

Jet.com was an American e-commerce company headquartered in Hoboken, New Jersey. It was founded in 2014 by Marc Lore, Mike Waleri, and Nate Faust, with a business model centered around offering lower prices to consumers by encouraging bulk purchases and reducing logistical costs. The platform dynamically adjusted prices based on factors such as the number of items in a customer's cart, the proximity of fulfillment centers, and payment methods used.

Jet.com positioned itself as a direct competitor to Amazon.com. It aimed to attract a specific segment of the online shopping market with its value proposition, focusing on price-sensitive consumers and those willing to make strategic purchasing decisions to save money.

In August 2016, Walmart acquired Jet.com for $3.3 billion in cash and stock. Marc Lore subsequently joined Walmart as the head of Walmart U.S. e-commerce. Following the acquisition, Walmart aimed to leverage Jet.com's technology and expertise to bolster its own online retail presence.

Jet.com operated as a distinct brand under Walmart's ownership for several years. However, on May 19, 2020, Walmart announced that it would be shutting down Jet.com. The company cited its integration of Jet.com's technology and personnel into Walmart's own e-commerce operations as the reason for the shutdown. Walmart stated that the Jet.com brand had largely fulfilled its purpose and that focusing on Walmart.com would be more beneficial moving forward. The Jet.com website was officially closed down, and its traffic was redirected to Walmart.com.