Monday , 17 December 2018
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Jet.com secures a $600M valuation — before it’s even launched a site

Jet.com secures a $600M valuation — before it’s even launched a site

This is pretty much all there is to Jet.com right now.

This is pretty much all there is to Jet.com right now.

Above: This is pretty much all there is to Jet.com right now.

Image Credit: Screenshot

Cue the “bubble” chatter.

Jet.com, which plans to launch an online e-commerce marketplace, has raised a $140 million convertible note that gives the company a reported post-money valuation of $600 million.

And it hasn’t even launched its site yet. All there is at Jet.com right now is a big “coming soon” banner, a glowing quote from Businessweek, and a place to enter your email address so you can get notified when the company does launch.

The funding was led by Bain Capital Ventures, with participation from Google Ventures, General Catalyst, Norwest Venture Partners, and others.

The Wall Street Journal reported the news this afternoon. Founder Marc Lore, sold his previous company, Quidsi, to Amazon for $540 million in 2010. Quidsi was less well known than its primary website, Diapers.com.

Jet is based in Hoboken, N.J. It had previously raised $80 million, and employs about 100 people.

Bain Capital (www.baincapital.com) is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets with more than $38 billion in assets under … read more »

Jet will operate out of Hoboken, New Jersey, and is working on an innovative logistics network, though we still don’t know what the site will actually sell. Because Lore has already been up-close-and-personal with Amazon’s most brutal … read more »

Marc Lore was previously the Chief Operating Officer of Wizkids, Inc., a wholly owned subsidiary of The Topps Company, Inc. (NASD: TOPP) and a leading game manufacturer. Prior to joining Wizkids, Marc was the co-founder and CEO of The … read more »

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