What is Jet, exactly?
It's not the Australian garage-rock band, a seminal solo hit by Paul McCartney, nor a spectacularly mediocre NFL team.
It's a heavily funded e-commerce startup designed to compete with internet retail leviathan Amazon -- it sells everything from entertainment, to clothing, to automotive and home goods. But that's not what we care about here. The big draw (for me at least) is its venture into selling food at ridiculously cheap prices.
Not only does it have the basics (from olive oil to Pop-Tarts), it also has opened up some of its markets to a "fresh service," offering all types of perishables: meat, fish, fruit, veggies, produce... basically everything you could ever hope to find in your own grocery store. This new experiment -- and potential replacement for the traditional grocery store model -- is happening in close to 1,000 ZIP codes across the Eastern Seaboard (you can see if your ZIP is valid with a quick search on the site), and spreading rapidly throughout the country.
In August of 2016, Walmart acquired Jet for a cool $3 billion, expanding its reach and putting its hefty resources and capitol behind the company. Jet made its name on undercutting costs, below that of its main competitors. And it just keeps getting better at it with Walmart's muscle behind the company.