Deals

CEO behind Diapers.com raises $55M for a mystery ecommerce venture

Image Credit: Shutterstock

Marc Lore, the man behind Diapers.com, is itching to get back into ecommerce in a big way.

Lore announced today that he has raised $55 million in funding — a first round of funding, mind you — for a new ecommerce company, Jet, which will offer up a whole new spin on online shopping. Details behind the venture are scarce at this point, though he mentions that it “will empower customers like never before.”

Lore was pushed into confirming the funding after Recode broke the news this morning. NEA led the round of funding, and Accel Partners, Bain Capital Ventures, and MentorTech Ventures also participated.

With his previous company Quidsi, which launched the Diapers.com brand, Lore found success by focusing on things like strong customer support and fast shipping. Indeed, Diapers.com quickly became a threat to Amazon, so it wasn’t a big surprise when Amazon acquired Quidsi for $550 million in 2010.

“Jet will bring unprecedented transparency and efficiencies to the overall e-commerce market, and as a result, will transform the customer experience in a way that, until now, has not been possible,” Lore said in his blog post.

0 comments