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Marc Lore Jet Raised 140 Million | Business Insider

Jet, the e-commerce startup founded by former Quidsi CEO Marc Lore that plans to compete with Amazon using a dynamic pricing model, just raised $140 million in new funding in a round led by Bain Capital.

Like Amazon, the site will sell just about everything — but it promises its prices will ultimately be 10 to 15% lower than they are anywhere else. In exchange, people will pay a $50 annual membership fee. It’s like Costco, but online.

Jet plans to achieve these super-low prices in a couple of ways.

Buyers will be able to get lower prices by combining multiple orders into a single shipment. For example, if you want to buy a soccer ball and shin-guards, you’ll see a list of sellers that offer both, and will save about $5 if you choose to go with one of those options, since the seller will be able to put the products in one box.

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Marc Lore Jet Raised 140 Million.

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