Rithum Customers Get Early Access to Next-Generation Marketplace
Research Triangle Park, NC – January 27, 2015 – Rithum Corporation (NYSE:ECOM), a leading provider of cloud-based e-commerce solutions that enable retailers and manufacturers to increase global sales, today announced the addition of Jet.com to the Rithum platform. The strategic partnership gives Rithum customers a unique opportunity to quickly and easily list their products on Jet in time for its official public launch.
Jet is a retailer-friendly, membership-based e-commerce marketplace that offers value across a broad array of product categories such as electronics, home goods, consumables, appliances, sporting goods and much more. Jet’s platform includes an innovative real-time dynamic pricing engine that can help retailers to sell effectively and improve both sales and profitability.
“Jet is positioned to become a disruptive player in the e-commerce industry,” said Rithum CEO Scot Wingo. “Jet has innovated both the merchant-facing side of the equation and the consumer-facing side. We are excited to be a launch partner with Jet so that our customers can leverage our integration to be ready to start selling on day one.”
To drive highly competitive prices, Jet incents consumers to shop in ways that reduce retailer costs. By enabling retailers to manage order-level profitability through preset rules, Jet is then able to adjust prices dynamically throughout the shopping experience based on variables such as customer location, cart value, number of items per cart and item return options. At checkout, Jet matches a shopper’s cart to the optimal retailer with the best value based on these preset rules. The result is an order that is a win for both the shopper and the retailer.
“Our strategic alliance enables Rithum customers to quickly and easily integrate with Jet,” said Scott Hilton, Jet’s Chief Revenue Officer. “These retailers efficiently gain access to a marketplace that’s grounded in transparency and focused on meeting both retailer and consumer needs.”
Jet was founded by Marc Lore, the former founder and CEO of Quidsi, the company behind Diapers.com, Soap.com, Wag.com and other sites. Jet has received $80M in financing from top firms including NEA, Accel Partners and Bain Capital Ventures. Interested retailers can find out more by visiting partner.jet.com.
“We’re confident that together with Rithum, we can empower retailers to create a more profitable channel that will help grow their businesses,” said Lore.
To learn more about Jet and the partnership with Rithum, please visit partner.jet.com.
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