Jet.com was founded by Diapers.com entrepreneur Marc Lore, who sold his company to Amazon in 2010 for $540 million. The company plans to take on Amazon (AMZN, Tech30) by signing up members for $50 a year. In turn, it will offer super-steep discounts on everything (10% to 15% lower than anywhere else online, Jet.com claims). Think of it like an online version of Costco (COST).
Martin couldn’t give his impressions of the site, though. He said Jet.com gave insiders a sneak peak, but he hasn’t used it himself — he was too focused on signing other people up for the site.
