Marc Lore is an American entrepreneur, businessman, and investor, currently serving as founder, chairman, and CEO of the Wonder Group. He previously held the position of President and CEO of Walmart U.S. eCommerce from 2016 to 2021. Lore's appointment at Walmart followed the company's $3.3 billion acquisition of Jet.com, the e-commerce website he founded in 2014. His career highlights his success in the e-commerce sector.
On May 16, 1971, Marc Eric Lore was born. He is an American entrepreneur, businessman, and investor.
In 1989, after graduating high school, Marc Lore attended Bucknell University and was on the track and field team.
In 1989, during his senior year of high school at Ranney School, Lore became the New Jersey State Champ for the 55-meter dash.
In 1993, Marc Lore graduated cum laude from Bucknell University with a Bachelor of Arts in business management and economics.
In 1993, after graduating from college, Marc Lore began his career at Bankers Trust in New York City.
In 1996, Marc Lore qualified for the U.S. National Bobsled Team but chose to stay with his banking job instead of training.
In 1997, while at Credit Suisse First Boston, Marc Lore and Lev Borondovsky started the Global Association of Risk Professionals (GARP) and founded the Financial Risk Manager (FRM) certification.
Because he chose to stay at his banking job, Marc Lore lost his seat on the national bobsled team for the 1998 Winter Olympics.
In 1999, Marc Lore co-founded The Pit, Inc., an Internet market-making collectible company.
In 2001, The Pit, Inc. was sold to The Topps Company, Inc. for $5.7 million, after which Marc Lore joined Topps as chief operating officer of WizKids.
In 2005, Marc Lore and Vinit Bharara founded 1800DIAPERS, which was later rebranded as Diapers.com.
In 2011, Diapers.com was sold to Amazon for $545 million, after which Marc Lore worked for Amazon for over two years.
In 2011, Marc Lore was named regional Entrepreneur of the Year by Ernst & Young.
In November 2014, Jet launched a campaign offering stock options to users, generating word-of-mouth for the company in advance of launch.
In 2014, Marc Lore launched Jet.com, an e-commerce website that was later acquired by Walmart.
In January 2015, Jet was featured in a cover story in Bloomberg Businessweek, revealing its shopping club model with a $49.99 annual membership fee.
In February 2015, Jet raised $140 million in pre-launch funding from investors including Bain Capital Ventures, Accel Partners, and Alibaba Group.
In May 2015, beta testers reported that Jet.com offered cheaper prices than Amazon, but with longer delivery times.
On July 21, 2015, Jet.com officially opened to the public.
In October 2015, Jet eliminated its $49.99 annual membership fee.
On August 8, 2016, Walmart announced it had agreed to acquire Jet.com for $3.3 billion, and Marc Lore was appointed president and chief executive officer of Walmart U.S. eCommerce.
In September 2016, Marc Lore was appointed president and CEO of Walmart U.S. eCommerce, following Walmart's acquisition of Jet.com.
After Jet.com's acquisition in 2016, Marc Lore made headlines as the highest-paid executive in America.
In 2018, Marc Lore founded Wonder Group, a food delivery startup, where he serves as chairman and CEO.
In 2018, Walmart's e-commerce division incurred losses of approximately $1.4 billion.
In 2019, Walmart's e-commerce division incurred losses of approximately $1.7 billion.
In 2019, actress and entrepreneur Gwyneth Paltrow called Marc Lore a mentor and business coach.
In March 2020, Marc Lore publicly challenged and beat Hall of Fame football player Jerry Rice in the 40-yard dash for St. Jude Children's Research Hospital.
On May 19, 2020, Walmart announced that it was shutting down Jet, directing visitors to use Walmart.com instead.
In September 2020, it was reported that Marc Lore was working alongside Jennifer Lopez and Alex Rodriguez in a bid to buy the New York Mets, but the deal did not go through.
In 2020, Marc Lore was dubbed "the LeBron James of e-commerce" by businessman Matt Higgins.
In February 2021, Archer Aviation announced that Marc Lore would be investing an additional $10 million as the company announced their $1 billion purchase order from United Airlines and a SPAC.
On April 10, 2021, Marc Lore and Alex Rodriguez signed a letter of intent to purchase the Minnesota Timberwolves and Minnesota Lynx from Glen Taylor.
On May 12, 2021, Alex Rodriguez and Marc Lore announced a new venture capital firm called Vision Capital People (VCP).
In May 2021, Marc Lore appeared alongside Ray Lewis on the NFL Network's coverage of the NFL Draft for St. Jude Children's Research Hospital, raising over $1.7M for charity.
On July 21, 2021, Marc Lore, Alex Rodriguez, and Dave Portnoy were named as investors of online brokerage firm, Tornado.
In September 2021, Marc Lore announced Telosa, a city he is building from scratch with a target population of 5 million people by 2050.
In September 2021, Marc Lore announced his next venture, Telosa, a multi-decade project to build a city of the future.
In December 2021, CNBC reported on Marc Lore's involvement in Wonder, highlighting his ambition to redefine at-home dining.
According to Fortune magazine, as of 2021, Wonder had received $500M in venture funding from various partners.
In November 2023, Wonder acquired Blue Apron.
In March 2024, Wonder announced a $700M fundraising round.
In November 2024, Wonder bought Grubhub from Just Eat Takeaway for $650 million.
In 2024, Glen Taylor claimed a delayed payment invalidated the deal to transfer ownership of the Minnesota Timberwolves and Minnesota Lynx to Alex Rodriguez and Lore.
In May 2025, Wonder announced a $600M fundraising round that brought Wonder's valuation to $7 billion.
In 2025, an arbitration panel decided in favor of Marc Lore and Alex Rodriguez in their deal to purchase the Minnesota Timberwolves and Minnesota Lynx.
Marc Lore's city project, Telosa, has a target population of 5 million people by 2050.
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