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Jet.com Raises Funds To Help It Compete With Market Leader Amazon

November 5, 2015: 12:00 AM EST
Online retailer Jet.com, considered one of Amazon.com’s biggest challengers ever, is about to raise $500 million to $550 million in a funding round led by Fidelity Investments. Such an investment would put the online shopping startup’s valuation at about $1.5 billion. Founded by a former Amazon executive, Jet.com is seeking to undercut Amazon’s prices. It also aims to attract customers by offering aggressive ways to save on purchases, such as discounts for paying with a debit card or waiving right to return products they buy.
Eric Newcomer et al, "Jet.com to Raise Funds Valuing the Amazon Rival at $1.5 Billion", Bloomberg Business, November 05, 2015, © Bloomberg L.P.
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