jet.com

Amazon.com, Inc. (NASDAQ:AMZN) challenger Jet.com is taking the online landscape by storm even before going public and selling anything; on the idea that it is the one to reinvent the retail space once again. The online startup is poised to open its online store this spring but continues to attract huge investment packages from some of the biggest companies.

Google Inc (NASDAQ:GOOGL) Ventures and Goldman Sachs Group Inc (NYSE:GS) have already aired their belief on CEO, Marc Lore consequently investing in Jet.com.

The round of investments has seen Jet.com valuation near $600 million having raised a $140 million in convertible note. Very few e-commerce startups have ever been valued this highly. Before going public, Amazon.com, Inc. (NASDAQ:AMZN) had only raised $10 million in funding with its IPO raising $54 million consequently valuing it above $600 million.

The wave of investments has been accelerated by the fact that Jet.com is run by experienced Lore, who sold his former company Diapers.com for $550 million to Amazon.com, Inc. (NASDAQ:AMZN). The likes of Google Inc (NASDAQ:GOOGL) believe Lore can transform Jet.com into a juggernaut with success similar to that of Amazon, especially in connecting shoppers and third party merchants.

While operating in the e-commerce space, Jet.com will look to adopt some approaches from the likes of Amazon and Costco Wholesale Corporation (NASDAQ:COST) as a way of giving customers a vast platform of retailers with the best prices and exclusivity. Lore has already stated that money from the investment rounds is being used to invest in value proposition for customers.

Jet.com already has 130 employees in its ranks and is set to open its doors first to a select group before going full blast to the general public. An early membership program before being shut down had accrued 352,000 sign ups according to Lore.

Google Inc (NASDAQ:GOOGL) investing in the upcoming online player is an indication that the search giant believes it can give the likes of Amazon and eBay Inc (NASDAQ:EBAY) a run for their money on online transactions.