Jet: A New Era of Transparency and Empowerment in E-Commerce
This morning a story was published in Re/code speculating on the funding of my new venture.
I’m happy to confirm that we’ve raised a $55M Series A round of funding led by NEA with participation from Accel Partners, Bain Capital Ventures and MentorTech Ventures. While it is too early to delve into the specifics of the business we are building, I wanted to share my excitement for this new venture.
As we all know, e-commerce has come a long way in just two decades, altering our expectations around price, selection and service. We now expect the lowest prices, infinite selection and overnight delivery right to our doorstep. This transformation in customer experience is undeniable and, at the same time, I believe there is still a massive opportunity for innovation.
At my previous company Quidsi, we built a brand (Diapers.com) that forged deep personal relationships with moms (and dads) by creating a focused and efficient online experience with amazing customer service. Behind the scenes, this started with logistics – ensuring that customers received their goods quickly. Consumers responded to this idea by becoming champions for our brand and sharing their experience with friends and family.
But there is still more we can do. A lot more.
At Jet we will make use of the latest advancements in technology to create a new shopping experience that will empower customers like never before. Jet will bring unprecedented transparency and efficiencies to the overall e-commerce market, and as a result, will transform the customer experience in a way that, until now, has not been possible.
We’ll share more details in the coming months. In the meantime, thanks for your interest in what we’re up to. It’s an awesome time for e-commerce and I couldn’t be more excited.
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