Fundraising is definitely the most terrifying and exhausting process. You have a brilliant idea, you know it will work, you know how to make it work, you believe in it but that doesn’t matter. What matters is what the investor thinks of your startup. You need to work a lot to sharpen your selling skills and impress an investor. But maybe some start-ups are really lucky.
What else can you say about this new startup that intends to compete with Amazon? This startup has already raised $220 million before its launch. We’re talking about jet.com
Jet.com is an ecommerce start-up that aims at making the customers shop brilliant. The startup claims to provide the lowest selling prices in the market. The team is building a technology that would help set real-time pricing for the customers based on what’s in their cart. Once the startup gets successful at convincing people about how they can save money while shopping, they would happily pay an annual subscription fee to use their services.
The startup has been founded by March Lore, who is a former employee at amazon and sold his last company to Amazon for $545 million.
How’s the company reacting to the news
According to Jet.com, they would get more time to focus on their product because the funding part has been done in advance now. Also, Marc Lore has made it a point not to get overwhelmed with this initial success.
We wish the company good luck and hope they succeed.