Jet.com, the well-funded challenger to Amazon.com, officially launched today. Comedian Kumail Nanjiani from HBO’s “Silicon Valley” hosts the introductory video, which takes on the prodigious task of explaining Jet’s pricing algorithm, as well as other “technomologial” stuff, as Nanjiani puts it.
Jet offers additional discounts if users waive their right to return items. “But what about buyer’s remorse?” Nanjiani asks, then answers his own question: “How about being a &^%$# grownup?”
The shopping service costs $49 a year to join, about half of what Amazon Prime costs, and has some $225 million in funding, according to Crunchbase. Notable funders include Alibaba, Silicon Valley Bank, and Bain Capital Ventures.