Jet was acquired by Walmart in September 2016.
Headquartered in Hoboken, NJ, Jet is an entirely new type of e-commerce marketplace bringing unprecedented transparency and efficiencies to the overall e-commerce market. By paying an annual membership fee of $49.99, customers get access to the lowest prices on millions of items and the opportunity to save on virtually everything they buy. Jet sees the opportunity to leverage technology and bring price innovation to an unlimited product selection. Jet’s proprietary pricing algorithm dynamically adjusts prices in real time in response to the unique composition of a shopper’s basket, always maximizing for cost-savings. Customers are seamlessly guided towards orders that are economically more efficient to fulfill. And because Jet only profits off the annual membership fee, the full benefit of that efficiency gets passed back to customers in the form of lower prices. Best of all, customers save without having to sacrifice service or experience. The Jet platform also requires that we work collaboratively with our merchants. Jet doesn’t compete with its partners. Rather, the company empowers them with pricing tools that enable them to set different rules based on their business goals and profit targets.