An eCommerce shopping site unlike any other online marketplaces, Jet's algorithms help users get the best deals by figuring out how to ship and sell products in a more cost-efficient manner. Built with this vision of reinventing digital retail through unbeatable prices combined with a maniacal focus on the customer experience, within months of launch Jet attracted more than 2,400 retailers and partners, and hundreds of thousands of customers.
The company was founded in 2014 by Marc Lore, Mike Hanrahan and Nate Faust. Accel had backed Lore previously in 2008 when we invested in his start-up Quidsi, the parent company of Diapers.com (which later sold to Amazon in 2010). When Marc was conceiving Jet, he reconnected with partner Sameer Gandhi, who led to Accel’s Seed and Series A investments in the business in 2014. In 2016, Wal-Mart acquired the company.