Walmart buys Jet.com for 3.3 BILLION

[Shades]

This guy does it again.....

So they build up Jet.com pretty quickly using coupon codes to gain the vast majority of their users. A lot of abuse of those codes too. Probably ate a bunch of losses. But it got them a ton of users and Walmart just paid for it.

Not entirely sure how many people use Jet just in general, without using those new customer coupon deals. But gotta hand it to this guy. This was his goal when he set out and he got it done pretty damn fast. Same guy that got Diapers.com acquired.

http://money.cnn.com/2016/08/08/technology/walmart-jet-deal-amazon/

 

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[MJ DeMarco]

I used Jet once. Thought it sucked. Never used it again. (From a consumer standpoint.)

 

[eTox]

Happy for him

 

[Mattyg]

I used Jet once. Thought it sucked. Never used it again. (From a consumer standpoint.)

Thats why I gotta stop being perfect and just start! So many businesses suck out there that do just fine!

 

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[JokerCrazyBeatz]

I love these stories

 

[ZCP]

Anyone selling on jet.com? Am looking into it now....

 

[HoneyBadger]

Anyone selling on jet.com? Am looking into it now....

Exactly what I was thinking

 

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[Mineralogic]

This guy does it again.....

So they build up Jet.com pretty quickly using coupon codes to gain the vast majority of their users. A lot of abuse of those codes too. Probably ate a bunch of losses. But it got them a ton of users and Walmart just paid for it.

Not entirely sure how many people use Jet just in general, without using those new customer coupon deals. But gotta hand it to this guy. This was his goal when he set out and he got it done pretty damn fast. Same guy that got Diapers.com acquired.

http://money.cnn.com/2016/08/08/technology/walmart-jet-deal-amazon/

I used it for the last year and was my go to online shopping site over amazon and walmart. in fact i chose it specfically to move away from supporting amazon.com and the bezos beast.

this sucks

 

[ddzc]

I thought this was an airline charter company lol ..never even heard of them.

On a side note, I ordered a few things from Walmart online for cheap and it was shipped/delivered to my door the next day. Quite pleased.

 

[Mineralogic]

I thought this was an airline charter company lol ..never even heard of them.

On a side note, I ordered a few things from Walmart online for cheap and it was shipped/delivered to my door the next day. Quite pleased.

yep everyone should look into jet and walmart. jet was deliving me next day or 2 for free vs waiting forever with amazon. Amazon is the past now and just trying to maintain what they built. Bezos sold 750 million in stock last week. He is happy isn't he

 

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[Mr.Chaos]

yep everyone should look into jet and walmart. jet was deliving me next day or 2 for free vs waiting forever with amazon. Amazon is the past now and just trying to maintain what they built. Bezos sold 750 million in stock last week. He is happy isn't he

He still owns another 62billion in stock though.

 

[Mineralogic]

He still owns another 62billion in stock though.

he is too busy spreading propaganda at the Washington Post now to worry

and obviously entreprenuers are very eager to sell out in today's economy for the right price vs to compete with online monopolies like Amazon

 

[Shades]

yep everyone should look into jet and walmart. jet was deliving me next day or 2 for free vs waiting forever with amazon. Amazon is the past now and just trying to maintain what they built. Bezos sold 750 million in stock last week. He is happy isn't he

Huh? You must not have Prime. Jet has many many many horror stories out there of slow shipping because they do not control the shipping of all their products. Not to mention all the price errors they have had. Amazon hasn't even really started yet as far as being a powerhouse goes.

 

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[AgainstAllOdds]

he is too busy spreading propaganda at the Washington Post now to worry

and obviously entreprenuers are very eager to sell out in today's economy for the right price vs to compete with online monopolies like Amazon

You're calling Marc Lore a "sellout", but he just became a billionaire. So you're saying you'd rather work hard for the next twenty years, and hope you can take on a behemoth instead of guaranteeing yourself a spot among the global elite?

 

[Mineralogic]

Huh? You must not have Prime. Jet has many many many horror stories out there of slow shipping because they do not control the shipping of all their products. Not to mention all the price errors they have had. Amazon hasn't even really started yet as far as being a powerhouse goes.

never had 1 issue, got stuff overnite for free

I can see why walmart wanted them and I can see why he sold out. MONEY $$$$$$$$ Sure some employees and consumers like me wanted to SEE THEM LAST INDEPENDENTLY though

ps, that is what zuckerterd did...

 

[Shades]

never had 1 issue, got stuff overnite for free

I can see why walmart wanted them and I can see why he sold out. MONEY $$$$$$$$ Sure some employees and consumers like me wanted to SEE THEM LAST INDEPENDENTLY though

ps, that is what zuckerterd did...

Overnight for free huh, wow thats some deal. Did they give out free puppies too?

As for the other part...im not all that sure what you are even doing here with that kind of mindset.

 

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[JDx]

This guy is happy...

http://fusion.net/story/54990/guy-got-rich-using-jet/

This guy spent 18 THOUSAND USD on getting referrals.

On paper, Eric Martin is now a millionaire, with a big stake in one of the most hotly anticipated start-ups in years. He likely won’t be able to exercise his options for years.

It'll be interesting to see how that turns out for him. Who knows how they will value those stocks. Not sure what they will do after this buyout
"The options are only worth money if the company is successful at raising money at a future date and time." And so they did.. sort of

 

[Mineralogic]

Overnight for free huh, wow thats some deal. Did they give out free puppies too?

As for the other part...im not all that sure what you are even doing here with that kind of mindset.

sometimes you want companies to remain independent and not cut from the same cloth of every other wall st bigwhig.

if people wanted walmart or amazon ...Jet's consumerbase would have just bought from them instead

 

[Shades]

sometimes you want companies to remain independent and not cut from the same cloth of every other wall st bigwhig.

if people wanted walmart or amazon ...Jet's consumerbase would have just bought from them instead

Most people in business hope to reach this day at some point. We arent selling tie dye shirts on the corner. And that was obviously this guys plan from the start and he aggressively pursued it.

Jet has a bunch of customers because of how they got customers. Aggressive pricing with 15-20% off coupons. They werent even trying to make money. They were trying to amass a ton of traffic and buyers for the reason of attracting a buyout.

Theres not many people shopping at Jet because of the quality of the site, or shipping time or customer service. Im curious to see what happens with it from here. Its possible Walmart makes them more of a viable competitor.

 

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[TheDillon__]

I'm conflicted.

On one hand, I feel like it's crazy irresponsible to focus solely on user acquisition with no aim to monetization/profitability.

On the other hand, they have $3,300,000,000.00 more than me now.