Jet was founded with a vision to reinvent retail e-commerce through unbeatable prices and a maniacal focus on the customer experience. Unlike any other marketplace, its algorithms help shoppers get the best deals by figuring out how to ship products in a more cost-efficient manner. Within months of launch, Jet attracted more than 2,400 retailers and partners, and hundreds of thousands of customers.
Led by Sameer Gandhi, Accel invested in Quidsi/Diapers.com in 2008, a startup co-founded by Jet CEO Marc Lore, which later sold to Amazon in 2010. While coming up with his next big idea, Lore again connected with Gandhi, which led to Accel’s Series A investment in Jet in 2014. In 2016, Wal-Mart acquired the company for $3.3 billion.