Jet.com

“I mean, we got to a billion people Run rate in revenue within 10 months of the business launching, which was I think probably unprecedented at the time.”

“The transparency of salaries so everybody could see what everybody else was making. The fact that everybody in the company at the same level made exactly the same amount, you know, to really prevent unconscious bias from creeping in and things like that.”

“I told the investors we needed, we were gonna lose three billion dollars.”

“We were burning about forty million a month.”

“But the real key was raising, we did a six hundred and eighteen million dollar Series A. So we'd raised some money before that, and then we had the six hundred million Series A. That was a really tough round to get done. That was, at that time, we had negative…”

“When Walmart made the acquisition, that was a, probably the single biggest reason why they were interested in spending three billion dollars for Jet. It certainly wasn't the market penetration, the customers that they were buying. They were buying the team and…”

“I think, no, Jet definitely. I mean, Walmart stock doubled over the last four and a half years, so that was a good one.”

“With, when Jet was growing or early on with Jet, they had a contest. I don't know if you've seen this article, but they had a contest about who can acquire the most customers for Jet. You become a marketer, you go spread the word, whoever, whoever does, whoeve…”

“I mean, we got to a billion run rate in revenue within 10 months of the business launching, which was, I think, probably unprecedented at the time.”

“No, I still continue to think to this day that that would have worked well.”

“We were burning about forty million a month.”

“But the real key was raising, we did a six hundred and eighteen million dollar Series A. So we'd raised some money before that, and then we had the six hundred million Series A. That was a really tough round to get done. That was, at that time, we had negative…”

“It was the highest anyone had ever paid to acquire an e-commerce startup in the US at that point.”

“We were actually like a, their kind of biggest vendor of services before they launched for a year and after they launched, a lot of their sales were actually happening through us.”

“So probably the best third-party e-commerce entrepreneur on the East Coast.”

“Fun fact, they're the only firm to have investments in both Jet.com and Dollar Shave Club, two of the biggest and highest profile e-commerce exits in recent years.”

“So I had a Twitter post about this about, I don't know, nine months ago. And I said my three favorite unicorns that I think are in trouble were at that time, jet.com, Zenefits, and Magic Leap.”

“That would have, they could have had that for a dollar if they just would have waited.”

“Forerunner Ventures is the only VC firm to invest in both Dollar Shave Club and Jet.com, two of the biggest and highest profile e-commerce exits in recent years”

“Well, I think the biggest issue with Walmart and jet is churn, right? Repeat customers. And so buying jet doesn't help the issue of churn because most of those buyers on jet are just looking for a deal and are one-time buyers.”

“The last few weeks in retail, I mean, just look at the jet and dollar shave acquisitions. You're seeing, these are the first dominoes in what will be a bunch of dominoes falling. I believe in consolidation where the traditional guys in retail, the traditional …”