Montclair-Based Company Gets Large Cash Influx from Chinese Investors

How does a Montclair-based, start-up e-commerce business raise the capital necessary to challenge Amazon.com for a piece of the multi-billion dollar online marketplace?

According to a report in Forbes, you attract investors like the multi-national Chinese powerhouse, Alibaba Group.

The Alibaba Group’s undisclosed, “secret” investment in Jet.com – a soon-to-launch e-retailer – was part of a $140 million round of capital funding in February, the report claimed.

Additional investors in the company include Bain Capital Ventures, Accel Partners and New Enterprise Associates.

So far, the company and its founder – Marc Lore – have raised more than $225 million for the fledgling enterprise, the report stated.

Lore, who sold his company, Quidsi - the producer of Diapers.com – to Amazon for $550 million in 2010, has stated in previous reports that he plans to take on the multi-national giant for a share of the online wholesale shopping market.

Jet.com recently opened an office in Hoboken at the Waterfront III building, in addition to their Montclair office on Bloomfield Avenue. [See related Patch article here]

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