New Amazon rival launches

Hoboken, N.J. – A new rival to Amazon.com has officially taken flight. Jet.com, a membership-based e-commerce platform that promises to beat Amazon Prime prices using “profit-free pricing,” launched as of July 21.



Jet says it sells millions of items, in sizes ranging from small to bulk. The site is specifically designed to compete with the Amazon Prime paid loyalty service, charging $49.99 for an annual membership fee (although it is currently offering an introductory free three-month trial).



Jet's proprietary, dynamic pricing algorithm finds savings in real time from its retail partners and shows customers the items that bring down costs when bought together. The company does not earn profit on its prices, which is how it backs up its guarantee of meeting or beating Amazon.



In addition to shopping on Jet, members can shop at hundreds of “Jet Anywhere” stores across the Web, earning JetCash to spend on future Jet.com purchases.



"We have a very simple brand promise," said Marc Lore, Jet.com founder and CEO. "Pay just $49.99 a year and you will save on pretty much anything you want to buy online. At launch, Jet will be offering a complementary limited-time trial membership, so new customers can shop the site and see how much they can save. Jet guarantees that members will save at least the cost of membership or we will refund the difference."



There has been public speculation from e-commerce experts that Amazon may take the “if you can’t lick ‘em, join ‘em” approach to Jet.com and attempt to buy the company. Amazon presumably has contact information for Lore, who previously sold Diapers.com to Amazon for the hefty sum of $550 million.