Wikipedia
Jet.com is a privately held American e-commerce company headquartered in Hoboken, New Jersey. The company was cofounded by entrepreneur Marc Lore (who had sold his previous company, Diapers.com, to Amazon.com) along with Mike Hanrahan and Nate Faust, and has raised $820 million over four venture rounds from firms including Google Ventures, Goldman Sachs, Bain Capital Ventures, Accel Partners, Alibaba Group, and Fidelity. The site was publicly launched on July 21, 2015.
A prominent feature of the site is its pricing scheme. Pricing adjustments are offered to encourage users to buy more items at once and to purchase items that are located in the same distribution center, thus making the purchases less expensive for the company to collect and ship. As users add items to their virtual shopping cart, they are encouraged to select additional items using pricing incentives. Pricing options are also offered during the check-out process, such as having the user opt out of the ability to return merchandise for free in exchange for a reduced price. Users are also offered a price incentive to use a debit card rather than a credit card for purchases.
It was announced on August 8, 2016, that Walmart will acquire Jet.com for $3.3 billion ($3 billion in cash and up to $300 million in stock paid out over time to the founders and other selected individuals at the company).