The Sad But Lucrative End of Jet.com

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This is from the Wall Street Journal:

Wal-Mart Stores Inc. is in talks to buy online discount retailer Jet.com Inc., according to people familiar with the matter, in what would mark a disappointing end for one of the most ambitious challengers to Amazon.com Inc.

….It isn’t clear how much Wal-Mart would pay, but a person familiar with the matter said Jet could be valued at up to $3 billion in private markets. Jet, barely a year old, has drawn more than $500 million in capital from the likes of venture firms New Enterprise Associates and Accel Partners.

Let me get this straight. Jet is one year old. Venture funds have invested “more than” $500 million (actually around $800 million). They will sell themselves to Walmart for about $3 billion. And this is a “disappointing end.”

I get it: they wanted to take over the world and they didn’t. That’s disappointing. At the same time, it appears that investors are going to quadruple their money in 12 months, give or take. And the founders are going to do even better. If they own, say, 20 percent of the company, they’ll walk away with $600 million for a year’s work.

Can I please sign up for a slice of this disappointment?

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A BETTER WAY TO DO THIS?

We have an ambitious $350,000 online fundraising goal this month and we can't afford to come up short. But when a reader recently asked how being a nonprofit makes Mother Jones different from other news organizations, we realized we needed to lay this out better: Because "in absolutely every way" is essentially the answer.

So we tried to explain why your year-end donations are so essential, and we'd like your help refining our pitch about what make Mother Jones valuable and worth reading to you.

We'd also like your support of our journalism with a year-end donation if you can right now—all online gifts will be doubled until we hit our $350,000 goal thanks to an incredibly generous donor's matching gift pledge.

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