A Jet.com contest winner turned an $18K ad spend into $20M
Shaan Puri · Billionaire Marc Lore on What He Would Build Today and Future of Ecommerce | My First Million #186 · May 26, 2021 · at 1:09:28
Shaan Puri recounts the story of Jet.com's pre-launch user acquisition referral competition.
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“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, whoever gets the most customers gets a 100,000 shares of Jet. And some guy went and did it, and he basically just did like, kind of like paid marketing in a unique way. He spent eight, the guy invested 18,000 dollars into the paid marketing, won the contest, and his 100,000 shares became worth twenty million when it sold.”
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