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Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

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Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#61

Post by johnward »

DougWebb wrote: post #47

I have mixed feelings about this. Jet started up next to the town where I live, and after growing for a while they moved to the town where I used to live. I'd been watching their job postings since early on, and I probably could've gotten hired early. Their recruiter recently reached out to me, so I could probably still get hired there. If they get bought out, I'd have missed out on potentially a very nice options pa…

Being acquired is always seen as this awesome thing but it can be terrible for a lot of people. I didn't have enough equity to make enough to buy a used Honda Civic. I don't care for the culture of the new company but I'm still working there. Pretty much everyone on my direct team left, found a new position in the new company, or were let go. The same thing happened in most areas. Our founders did take care of us by ensuring we get 4 weeks of vacation instead of having to wait 15 years for that, so that's something. Another plus is that I managed to double my startup salary.

Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#62

Post by ComteDeLaFere »

_RPM wrote: post #19

Jet.com was founded in 2014. How did they get enough traction to be viable when there are so many other online retailers like Amazon, and all the other brick and mortar retailers that also have large online presence.

I've often wondered about this. Each time I've compared Jet against prices from other retailers, the results have been underwhelming. Occasionally someone mentions a slightly better deal on Jet, but nothing that would rationalize the hype around this company. I'm assuming that Jet was just intended to be a short term play, ending with a float to an established retailer.

Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#66

Post by DougWebb »

brogrammernot wrote: post #48
DougWebb wrote: post #47

I have mixed feelings about this. Jet started up next to the town where I live, and after growing for a while they moved to the town where I used to live. I'd been watching their job postings since early on, and I probably could've gotten hired early. Their recruiter recently reached out to me, so I could probably still get hired there. If they get bought out, I'd have missed out on potentially a very nice options pa…

I'm confused. You do or don't work there? They raised 820M so I highly doubt it'll be that great of a payout considering that's only 4x what they raised. As for a buyout, it's typically crappy because the company buying you ruins the culture.

I do NOT work for Jet. I've considered it because they're very local to me, even closer than the NYC startups.

Edit: I've been through the buyout ruining the company culture, so I definitely agree with you there.

Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#67

Post by swingbridge »

Given the proposed price relative to funding raised it's likely the investors will get their money back plus a small return, employees with options will likely get nothing or perhaps a token amount (after all the preferred terms are cashed in) and the founder gets to sell off another highly unprofitable business.

This will be chalked up as a "failed" startup but at least the investors get to take their money and play another round elsewhere. For the employees this is likely not a great thing. I'm guessing when they joined a hyped up startup it was in large part because they didn't want to work for companies like WalMart and stood to strike it rich if Jet went public or hit it big. Now they could be wearing a WalMart badge and the company sold out to save the ass of its investors.

Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#68

Post by massysett »

protomyth wrote: post #60
poopsintub wrote: post #27

Earlier quoted context omitted.

Walmart has been offering 3rd party sellers/products for more than a few months now, if I had to guess. I bought a USB cable from Cable Matters, but the names of some of the companies/sellers on Walmart's website also lead me to believe they are selling products which aren't certified and have the correct components to be safe with our devices.

Well, guess I'm going to have to find someone else to order from next time. This is just so disappointing, its like the retail version of flash ads.

For cables and chargers, try Monoprice.

Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#69

Post by [deleted] »

protomyth wrote: post #60
poopsintub wrote: post #27

Earlier quoted context omitted.

Walmart has been offering 3rd party sellers/products for more than a few months now, if I had to guess. I bought a USB cable from Cable Matters, but the names of some of the companies/sellers on Walmart's website also lead me to believe they are selling products which aren't certified and have the correct components to be safe with our devices.

Well, guess I'm going to have to find someone else to order from next time. This is just so disappointing, its like the retail version of flash ads.

[deleted]

Re: Wal-Mart in Talks to Buy Web Retailer Jet.com for $3B

#70

Post by rogerdpack »

ocdtrekkie wrote: post #5

When Jet.com came out, I often checked it against Amazon, and did make some purchases through it. But there's some odd gaps, it has no category through which I can buy Blu-rays, for example. And it has huge inventory gaps on very basic current items. I honestly forgot to keep checking what I could get through it, as the gimmick of adding up a bunch of items for savings rarely amounted to very much.

Totally agree, jet just...doesn't have some things. But it does have some other things, and sometimes slightly lower than amazon. It's so low I almost made a purchase with them once!
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