The Feud Between Amazon.com, Inc. (AMZN) And Jet.com Extends Beyond Purple Lanyards
There seems to be no common ground for the bitter foes Amazon.com, Inc. (NASDAQ:AMZN) and Jet.com. Even at what was supposed to be a somewhat neutral event such as the annual Catalyst Americas convention, differences between the two companies continued to play out. Amazon and Jet.com are competing for the attention of customers looking for low-cost deals, but Jet.com wants to overtake Amazon as the lowest deals destination. The founder of Jet.com once worked for Amazon but left to set up a startup that is now threatening to eat Amazon’s lunch.
In Las Vegas, the Catalyst Americas conference brought together about 1,300 participants drawn from the online retail sector. Jet.com is one of the corporate sponsors of this year’s Catalyst Americas conference.
Amazon rejects purple lanyard
At the registration desk for the attendees of the annual online retail event, people were issued with name badge along with Jet.com’s signature in purple lanyard. That didn’t go down well with Amazon, whose employees quickly moved to swap the purple lanyards with orange lanyards that bear their company’s logo. So, everyone at the convention, expect Amazon employees, sported purple lanyards with Jet.com’s logo, including people from eBay Inc (NASDAQ:EBAY).
Jet.com founder hit at Amazon
The differences did not just end with Amazon.com, Inc. (NASDAQ:AMZN) employees refusing to don lanyards that seemed to promote their rival, but Jet.com’s founder, Marc Lore, took the opportunity to hit hard at Amazon. Lore reiterated their agenda to build the lowest price online retail platform, going on to say that they are not competing with merchants by selling their own products like some people do.
Jet.com is building a Web retail platform that will see customers paying $50 annually for access to the lowest prices they can ever get online. The customers will also benefit from a range of discounts on goods such as electronics, diapers and toys. Other discounts will be based on the proximity of the customer to the warehouse of the supplier. Additionally, commitment not to return items after they are also will also attract further discounts.
Once worked for Amazon
Lore founded Quidsi, the parent of Diapers.com, which was acquired by Amazon.com, Inc. (NASDAQ:AMZN) for $550 million back in 2010. Following the acquisition of Quidsi, Lore joined Amazon but left to establish Jet.com.
Latest posts by Neha Gupta (see all)
- Is Facebook Inc (NASDAQ:FB) Winning Or Losing In Virtual Reality Space? - May 27, 2016 07:35 AM PDT
- No Growth In Costco Wholesale Corporation (NASDAQ:COST)’s 3Q Comps Explained - May 27, 2016 07:34 AM PDT
- How Will International Business Machines Corp. (NYSE:IBM)’s Big Data University Help? - May 27, 2016 07:33 AM PDT