Early Life and Education
Marc Lore was born in Staten Island, New York, on May 16, 1971. He spent his early childhood in Staten Island before moving to Lincroft, New Jersey, at age 10. Lore showed entrepreneurial tendencies early in life, from trading baseball cards to starting a baseball card business in high school.
Career and Achievements
Lore's career began with a degree in business management and economics from Bucknell University in 1993. Before his entrepreneurial endeavors, Lore worked in risk management at Bankers Trust and Credit Suisse. His first major success came with Quidsi, the parent company of Diapers.com, which he co-founded in 2005 and sold to Amazon in 2011 for $545 million. In 2014, Lore founded Jet.com, which Walmart acquired in 2016 for $3.3 billion. Lore then became President and CEO of Walmart U.S. eCommerce, where he boosted the company's online sales. He left Walmart in 2021 to focus on Wonder, a food technology startup, and became co-owner of the NBA's Minnesota Timberwolves and WNBA's Minnesota Lynx. Lore was named regional Entrepreneur of the Year by Ernst & Young in 2011 and was dubbed "the LeBron James of e-commerce" by Matt Higgins.
Key Business Strategies
Lore's business strategies have been marked by innovation and a deep understanding of e-commerce. At Jet.com, he introduced a unique pricing model designed to offer lower prices, and he prioritized customer experience and efficient logistics. His ability to scale businesses, coupled with a keen focus on consumer needs, has been central to his success.
Philanthropy
Details on Marc Lore's specific philanthropy initiatives and amounts are not readily available through a general search.
