Marc Lore, CEO and Founder of Jet

Episode Overview

Among other topics, Marc discusses the following issues with Metis Strategy:

• Overcoming the inefficiencies of the existing market and what market opportunities exist for Jet
• How he defines the areas of focus for Jet.com
• Some of the things he has learned from Beta testing the websit
• His sources of profitability by being in a subscription model with a membership fe
• His time at Quidsi and how his experiences have colored his perspective while launching another retail space ventur
• The advantages of his experience in the financial world as it applies to his current wor
• How he has planned his leadership team to balance strengths and weaknesse
• How he plans the strategic direction of the new organization

Marc Lore’s Biography

Marc Lore is the Founder and CEO of Jet, the online marketplace that will take advantage of the economics of online shopping to create a new business model promising the lowest prices on the Internet. The company officially launches the day we are broadcasting, July 13, 2015. The company has raised over $220 million in funding.

Prior to Jet, Marc was the Co-founder and CEO of Quidsi, the parent company of e-commerce websites Diapers.com, Soap.com, Wag.com and more. The company was founded in 2005 and sold to Amazon in 2011 for $550 million. Marc was also the Co-founder and CEO of The Pit, Inc., an internet market-making collectible company constructed as an alternative to eBay, which was sold to the Topps Company in 2001.

Marc has received a wide array of industry accolades, including E&Y Entrepreneur of the Year regional winner and Fortune’s “smartest people in technology;” The Sunday Times Magazine of London named him one of Britain’s “new high-tech entrepreneurs and whiz kids.” Prior to being a serial entrepreneur, Marc held various investment banking positions, including Executive Vice President of Sanwa International Bank in London, where he was head of the bank’s Risk Management Division and Vice President of Emerging Markets Risk Management at Credit Suisse First Boston.

Marc received his BA in Business Management and Economics from Bucknell University.

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