I had never heard of them until now. I don't think this is going to have a happy ending.
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Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
11–20 of 84 posts
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#12Also, where are they spending this much on marketing, they've got almost no marketing presence imo?
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Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#13I put in an order when Jet launched. No joke, from the best I can tell, they sent someone to a physical Walmart, where they purchased the product at full retail, for more than they charged me, packaged it up, and shipped it to me with free two-day delivery.
But they'll make it up on volume, right?
Smart people have said, "do things that don't scale." I guess Jet took that at face value.
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#14I put in an order when Jet launched. No joke, from the best I can tell, they sent someone to a physical Walmart, where they purchased the product at full retail, for more than they charged me , packaged it up, and shipped it to me with free two-day delivery. But they'll make it up on volume, right? Smart people have said, "do things that don't scale." I guess Jet took that at face value.
I ordered a wireless router from Jet. They filled my order by ordering it on Newegg and having it shipped to me. If they don't have stock of something on their website, they'll buy it somewhere else rather than lose the sale.
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#15Also, where are they spending this much on marketing, they've got almost no marketing presence imo?
They spend over $100k a month just on paid advertising.
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#16Jet.com is going to flame out so quickly, and fairly predictably as well to a lot of outsiders. I wonder what the Jet.com investors were smoking, must have been some good stuff.
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#17Also, where are they spending this much on marketing, they've got almost no marketing presence imo?
They spend over $100k a month just on paid advertising.
Per the article, their advertising budget is $300 million for the first year, and they spent $25 million on marketing last month.
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#18Earlier this year the CEO said “I don’t have any more plans to raise more capital.” And at the time there he downplayed the size of the investment given that it was before the product was released. Back then it was implied that it would help ensure that they'd not have to raise money for quite a while.
I wonder what happened to that plan.
Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#19Also, where are they spending this much on marketing, they've got almost no marketing presence imo?
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Re: Facing Cash Crunch, Retailer Jet.com Racing to Complete Funding Round
#20Whoever designed their color scheme was nuts. The hue of their purple is incredibly nauseating, at least to me.