Diapers.com founder raises $55 million to battle Amazon, again

Marc Lore, the former CEO of Diapers.com and parent company Quisdi, has raised $55 million to start a new e-commerce site, three years after he sold his online retail store to Amazon (NASDAQ:AMZN).

Once a competitor, Diapers.com was facing increased competition in 2011 from the Seattle-based retail giant. So Lore and Co-founder Vinit Bharara sold Quisdi—also responsible for Soap.com and Wag.com—to Amazon for $550 million, reported Re/code.

Back to compete again, Lore raised $55 million to build out a new e-commerce company called Jet. The investment was led by New Enterprise Associates with additional investments from Accel Partners, Bain Capital Ventures and MentorTech Ventures. Except for Bain Capital, all of the firms have previously invested in Quidsi.

Quidsi has made several brand changes since joining the Amazon team, including relaunching Vine.com to cater to shoppers with dietary restrictions that want natural and organic groceries.

Lore announced his venture to create Jet this past spring but was waiting for the non-compete clause from Amazon to run out, reported Business Insider.

For more:
-Read this Re/code article
-Read this Business Insider article

Related stories:
Amazon's Vine.com relaunches as online grocer with a twist
Walmart, Costco agree to online unit pricing
Walmart introduces new grocery drive-through concept
FreshDirect voted best online grocery service
Instacart continues rapid expansion, offers grocery delivery in Philadelphia, Chicago's North Shore

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.