[fraserharris]

Jet.com's strategy is to get large enough that the brands have to list on their site (like they do an all major marketplaces). Many of the larger brands are currently sitting on the sidelines "seeing how it goes". You can think of their current strategy as "buying one side of a two sided marketplace". This may or may not work, but calling the strategy stupid just demonstrates a lack of familiarity with ecommerce marketpaces.

If Jet.com's strategy does work then its cemented itself as a multi-billion $ marketplace. In an era of near-zero % interest rates, funds are willing to take that risk for the potential return.