What kind of company is Jet.com?

Jet.com was an e-commerce company founded in 2014 by entrepreneur Marc Lore. It aimed to compete with industry giants like Amazon by offering competitive prices on a wide range of products. In 2016, just two years after its launch, Jet.com was acquired by Walmart for $3.3 billion.

Under Walmart's ownership, Jet.com operated as a standalone brand for a few years but struggled to gain significant traction in the highly competitive e-commerce market. As a result, Walmart made the decision to wind down Jet.com in 2020. The decision to retire the Jet.com brand was driven by Walmart's desire to focus on its core e-commerce business and integrate Jet's technology and capabilities into its own platform.

Walmart's acquisition of Jet.com was driven by its goal to enhance its online presence and compete more effectively with Amazon. Jet.com brought several innovations to the table, including proprietary pricing algorithms and a unique membership model that offered additional discounts to customers. While Jet.com as a standalone brand may not have achieved the desired success, its technology and expertise have played a role in shaping Walmart's e-commerce strategy going forward.

Today, Walmart operates as one of the largest retailers in the world, with a significant presence in both brick-and-mortar stores and online. While the Jet.com brand may no longer be active, the acquisition and integration of Jet.com into Walmart demonstrate the company's commitment to leveraging technology and innovation to stay competitive in the evolving e-commerce landscape.