Just over four years after Walmart purchased Jet.com for $3 billion, Jet's founder is leaving his position at Walmart to pursue other opportunities. Marc Lore came aboard as president and CEO of U.S. e-commerce for Walmart shortly after the retailer acquired his company in 2016, and while the results of his time with Walmart were not all profitable (Jet.com was closed down last May, and the text-based shopping service Jetblack lost money and eventually met the same fate), the overall impression is one of success. Since Walmart doubled down on e-commerce, with Lore at the helm, online sales have surged.
“Reflecting on the past few years with so much pride – Walmart changed my life and the work we did together will keep changing the lives of customers for years to come. It has been an honor to be a part of the Walmart family and I look forward to providing advice and ideas in the future,” Lore said in a statement posted to Linkedin.