Posted on : August 28, 2016
Views : 354
Category : Marketing
Jet.com founder Marc Lore talks about how online companies can compete with brick-and-mortar competitors and what they have not yet figured out yet. Jet.com is one of the most anticipated startup launches in recent history. Jet.com is a members-only shopping club and has already raised $220 million in venture funding (valueing Jet.com at $590 million). Lore sold his first company (Quidsi), to Amazon for $545 million in 2010.
- Jet.com used a novel buzz-building viral strategy when they launched a referral contest offering equity to customers who refer the most sign-ups. Jet charges a membership fee and incentivizes customers to buy more in order to save on shipping costs and has 352,000 sign-ups as a result of the promotion. source: fortune.com