Jet was founded in the year 2014. The company has been operational for five years now. The founders of the company were Mike Hanrahan, Marc Lore and Nate Faust. Marc Lore wanted to build a website that was similar to Amazon but will have products with reduced prices. The company had started with an investment of $1 million from Accel Ventures. Marc Lore also created a 10-tier salary structure in the company, and then recruits were assigned to each tier. This eliminated any kind of negotiations for payment of salary. One of the most essential features of the website was its pricing model. The website will encourage users to buy more products that are within the same distribution channel, thereby making it less costly for the company.
Founder: Marc E. Lore, Nathan Faust
Address: 221 River St, Hoboken, NJ 07030, USA
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