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Scaling to a billion: How Jet.com is building the next big marketplace
June 23, 2016 @ 7:30 pm - 9:30 pm EDT
How do you differentiate your product/service in a crowded marketplace? How do you manage rapid growth while maintaining your organization’s corporate culture? This month, we’re flying down Rick Paster, Director of Program Management at Jet.com, to hear how they’ve set their organization apart and successfully grown their employee base to over 1300 employees!
Launched in July 2015, Jet.com is already on pace to reach $1 billion in revenue in 2016. They have amassed over 1,800 sellers offering a total of 11 million products, and an impressive 3 million shoppers since their debut. Their success is in their dynamic pricing model, which works like a real-time trading system, rewarding customers for buying multiple items through decreased shipping costs and thereby decreased customers’ cost.
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About the Speaker:
Rick Paster serves as Director of Program Management at Jet.com. The Program Management team, which was recently formed, is part of the larger Product Management and Customer Experience organization. In this role, Rick and team focus on product management and the coordination of larger efforts that impact several Jet teams and systems and span multiple development cycles. As Jet continues to scale rapidly, his team plays a critical role in the holistic planning and execution of larger initiatives, including synchronizing customer experience, product assortment and inventory, marketing, and operations and fulfillment.
Rick joined Jet in August 2015 after a 10-year stint at Citibank. At Citibank, he was a Senior Vice President of Digital Product Management focused on Citi’s eServicing strategy across consumer lines of businesses. Most recently, Rick led the effort to consolidate Citibank’s disparate digital platforms, unifying the bank’s credit card, retail bank and lending platforms, into a single, streamlined customer experience. Prior to Citibank, he worked in American Express for four years, splitting time between the OPEN Small Business and digital servicing teams. Rick began his career at a public relations agency supporting IBM software.
In his spare time, Rick loves to spend time with his wife Robyn and his two incredible girls, Lily and Haley, and try to keep them out of trouble (the kids, not Robyn!). He also enjoys playing and watching sports, especially his beloved Boston Bruins.
Launched in 2015, Jet.com is a new kind of marketplace that reimagines online shopping from the ground up. Founded on three simple values – trust, transparency and fairness – Jet is powered by a smart technology that creates more value for everyone, finding innovative ways to pull costs out of the supply chain and, together with its retailer and brand partners, shares those savings with shoppers.
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