Be Bold

Source: CNN Money

The Wal-Mart announcement on the close of the Jet.com acquisition formalizes a remarkable moment in Jet’s early (and largely unwritten) history. What the team has accomplished since coming together in 2014 is nothing short of remarkable, but it should be said we are more excited to see what is yet to come and what they will still do.

In reflecting on this, we re-learned a lesson from Marc Lore (co-founder and CEO of Jet) and his team — the start-up community must stay true to a core principle — be bold.

In reflecting on this, we re-learned a lesson from Marc Lore (co-founder and CEO of Jet) and his team — the start-up community must stay true to a core principle — be bold.

It’s a reminder to not forget about big aspirations. To think deeply about long-term goals, and to create a company culture that attracts the type of talented people that are eager and undaunted to make what seems impossible possible. It’s also a testament to staying hungry.

When Marc was conceiving Jet, we spent some time talking about what he wanted to build and why. We had backed Marc previously when he started Quidsi, and knew we would work with him again if presented the opportunity.

But we also wanted to get a handle on his motivation; after all he had sold Quidsi to Amazon for $555 million in one of the most successful online commerce stories ever. It didn’t take long to figure out that Marc, as a repeat entrepreneur, was still intensely passionate about the process of creating and building, but this time he would apply all his learnings and experience to think bigger and move faster.

And so he did. He understood there was a massive opportunity in the $300+ billion (soon to be $1 trillion) e-commerce market in the U.S. And he believed that there was a real way to sustainably make things better every day for consumers. While many had reservations about the ambitious nature of his plans, we chose to believe and back him, despite the big risks.

Congratulations and thank you to Marc and all of the JetHeads for bringing us along on the first part of the Jet journey. Your efforts are a good reminder to all of us to not forget to be bold.