President and CEO Walmart E-commerce U.S. The prolific founder of startups like Jet.com brings his direct-to-consumer smarts to Walmart.
Babies and animals have been good to Marc Lore. The Walmart U.S. ecommerce president and chief executive founded Diapers.com in 2005 and in 2011 followed up that success with the pet-centric Wag.com. The latter was a risky move—Pets.com went belly up in 2000 in part because dog food and cat litter are expensive to ship. But Lore told The New York Times his pets site could avoid a similar fate because it only offered free shipping above a certain threshold and it “obsesses” about logistics. He was right, and in 2010 Amazon bought parent company Quidsi for $545 million (and shuttered it in 2017).
This story is from the October 15, 2018 edition of ADWEEK.
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This story is from the October 15, 2018 edition of ADWEEK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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