Marc Lore

Marc Lore
Born
Marc Eric Lore

(1971-05-16) May 16, 1971 (age 53)
New York City, US
EducationBucknell University (BA)
Columbia University (dropped out)
Wharton School of the University of Pennsylvania (dropped out)
OccupationEntrepreneur
Known forWalmart eCommerce CEO, GARP, Diapers.com and Jet.com, Founder, Chairman, and CEO of the Wonder Group
SpouseCarolyn Lore (divorced)
Children2
Websitewww.linkedin.com/in/marclore

Marc Eric Lore (/ˈlɔːri/ LOR-ee; born May 16, 1971) is an American entrepreneur,[1] businessman, investor,[2] and NBA owner.[3] In December 2021, CNBC reported that Lore is now the Founder, Chairman, and CEO of the Wonder Group.[4] From 2016 to 2021, he was the President and CEO of Walmart U.S. eCommerce.[5] Lore was appointed in September 2016 to lead Walmart's e-commerce division when his company Jet.com—an e-commerce website launched in 2014—was acquired by Walmart, Inc. Walmart purchased Jet for $3.3 billion.[6]

Prior to Jet, Lore was the CEO and co-founder of Quidsi, the parent company of a family of websites, including Diapers.com. Quidsi was sold in 2011 to Amazon for $545 million.[7] Lore was named regional Entrepreneur of the Year by Ernst & Young in 2011,[8] one of the "smartest people in technology" by Fortune,[9] and dubbed the LeBron James of e-commerce by Matt Higgins.[10]

After stepping down from Walmart, Recode reported that Lore's next venture will be "a multi-decade project to build 'a city of the future' supported by 'a reformed version of capitalism'",[11] announced in September 2021 as Telosa.[12] In November 2023, Wonder Group—a company Marc founded in 2018—purchased Blue Apron for $103 million.[13]

  1. ^ Okyle, Carly (July 21, 2015). "Jet.com's Founder Marc Lore: 3 Things You Need to Know About the Man Taking on Amazon". Entrepreneur.
  2. ^ "With Money From Walmart's Marc Lore, Stealth Startup Archer Buys Its Way Into The Electric Air Taxi Race". Forbes.
  3. ^ "Sale of Minnesota Timberwolves to Marc Lore, Alex Rodriguez receives approval from NBA". 21 July 2021.
  4. ^ "Jet founder Marc Lore plots U.S. expansion of food delivery biz: A 'one-stop shop' for cooked meals". CNBC. 7 December 2021.
  5. ^ "Exec Bio".
  6. ^ Lunden, Ingrid (August 8, 2016). "Confirmed: Walmart buys Jet.com for $3B in cash to fight Amazon".
  7. ^ "10 of the Largest Amazon Acquisitions to Date". 9 August 2017.
  8. ^ Young, Ernst &. "Ernst & Young Entrepreneur Of The Year® 2011 New Jersey Award Winners Announced". www.prnewswire.com (Press release).
  9. ^ "The Smartest People in Tech - 6 more to know". CNNMoney.
  10. ^ "The Future of ECommerce with Marc Lore by The Manifestor Mindset". Spotify for Podcasters.
  11. ^ "Walmart's e-commerce chief is leaving to build "a city of the future"". 15 January 2021.
  12. ^ Holland, Oscar (6 September 2021). "Plans for $400-billion new city in the American desert unveiled". CNN. Retrieved 7 September 2021.
  13. ^ Valinsky, Jordan (2023-09-29). "Blue Apron stock surges 130% on news it is being sold | CNN Business". CNN. Retrieved 2023-12-03.