Simple Marketing + Smart Adjustment of a proven (and growing) industry/product + … the right time = PAYDAY.
The headline, “Confirmed: Walmart buys Jet.com for $3B in cash to fight Amazon” on Tech Crunch this morning should strengthen the resolve and sharpen the focus for every growing tech company. An online mall wasn’t a new idea – but these three guys; added to their virtual shopping cart option to select additional items (using pricing incentives). Wow, novel idea… anyone who’s purchased a pack of gum at the grocery store has seen the benefit of point of sale suggestions. It’s also not rocket science to understand that you can save on shipping if combine purchases.
The factor that really gave this deal a steroid injection was Amazon.com (and the fact that Wal-Mart is not good at being second. These all fit together to form a $3 billion dollar deal.
This company launched (publicly ) a year and 18 days ago.
… THIS COMPANY LAUNCHED A YEAR AND 18 DAYS AGO!
Jet.com was purchased for $7.8 million dollars a day (since public launch). First, congratulations to Marc Lore, Nate Faust, and Mike Hanrahan for the amazing start up story. I hope that none of my clients hear of this and think that this is based on marketing alone. Second, congratulations to Wal-Mart… you’ve always been the cost cutting specialist – good luck (Beso’s good).
For the complete article by Ingrid Lunden (@ingridlunden)… here you go.
This commercial was released September 8th with a shortcut: “Shop Jet today: http://bit.ly/ShopJet”