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Jet Targets Amazon After $140 Million Funding Round

February 12th, 2015

Jet Targets Amazon After $140 Million Funding Round E-commerce start-up Jet.com, the latest project of Marc Lore, who famously sold Diaper.com to Amazon for $545 million, has just announced it has raised another $140 million on top of the $80 million it already raised.

The Wall St. Journal reported that the investment, in the form of debt that is convertible into equity, is expected to value the company at nearly $600 million, according to people familiar with the matter.

That’s pretty impressive. But what is even more impressive is that Jet.com hasn’t even opened its doors to do business. The new site, which is due to start operating publicly in the next few weeks, has Amazon and Amazon’s e-commerce customers firmly in its sights.