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Old 01-09-2015, 06:56 AM
 
30 posts, read 28,644 times
Reputation: 24

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Jet is a new retail commerce site planning to compete with Amazon but a Costco-like customer value prop: 10-15% cheaper prices with a membership fee. They recently raised over $55 million in investment.

Bloomberg recently did an article on the company that explained: "Jet plans to open for business on a “friends-and-family” basis in January and will start limited sign-ups on Feb. 20. Customers will find just about everything, from clothes, books, and electronics to baby goods and athletic gear. After a 90-day free trial period, Jet customers will be asked to pay $49.99 a year for access to what Lore claims will be prices that are 10 percent to 15 percent lower than anywhere else online. Like Costco, Jet plans to make money on membership fees. Every other savings will be passed along to the buyer."

They are offering a free 6 month membership offer until February 6th, along with a chance to earn stock options. You can get details on that here: https://jet.com/#/ji/cjy05
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Old 01-09-2015, 07:23 AM
Status: "MAAA-Make America American Again!" (set 6 days ago)
 
Location: City Data Land
15,444 posts, read 8,962,852 times
Reputation: 30614
I like this idea but I wasn't able to sign up. I got an error message saying "This page does not exist." I read an article about it in Bloomberg

Amazon vs. Jet.com: Marc Lore Aims to Beat Bezos - Businessweek

It has a different business model than Amazon's. I would welcome some Amazon competition personally. I hope they succeed.
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Old 01-15-2015, 10:29 AM
 
30 posts, read 28,644 times
Reputation: 24
You are right Scooby. I hope Jet is successful, as it really seems it could lead to cheaper prices. But Jet is smart to give out the initial memberships free, since I doubt people will pay $50 a year until the model is proven.

Is it that the link does not work or when you put your email address in, there is a problem? When I put my email it, the page said it was "connecting" but I also got an email that confirmed the 6 month membership. If you didn't get the email, check your spam or trash folder.
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