Marc Eric Lore is an American entrepreneur, businessman, investor, and NBA owner.
30 Facts About Marc Lore
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In December 2021, CNBC reported that Lore is the Founder, Chairman, and CEO of the Wonder Group.
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Marc Lore was appointed in September 2016 to lead Walmart's e-commerce division when his company Jet.
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Marc Lore was born in Staten Island, New York on May 16,1971, the son of Peter and Chiara Marc Lore.
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Marc Lore is the oldest of three children and spent most of his childhood in Staten Island.
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Marc Lore's mother was a body builder and personal trainer.
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From fifth until twelfth grade, Marc Lore attended Ranney School in Tinton Falls, New Jersey.
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In 1989, during his senior year of high school, Marc Lore became the New Jersey State Champ for the 55-meter dash.
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Marc Lore's classmates called him the human calculator as a young savant with numbers.
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Marc Lore has stated that he "didn't apply himself at all" when it came to school.
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Marc Lore was on Bucknell's track and field team specializing in the 100-meter, 200-meter, long jump, and javelin events.
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Marc Lore enrolled in The Wharton School at the University of Pennsylvania.
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Marc Lore dropped out after one year in the MBA program to pursue Diapers.
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Marc Lore held various investment banking positions, including vice president of emerging markets risk management at Credit Suisse First Boston and executive vice president of Sanwa International Bank in London, where he was head of the bank's Risk Management Division.
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Marc Lore served as CEO and The Pit was sold to the sports collectibles company, The Topps Company, Inc for $5.7 million in 2001.
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Marc Lore was sold to Amazon in 2011 for $545 million, and Lore then worked for Amazon for over two years.
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In 2014, Marc Lore founded eCommerce company, Jet with Nate Faust and Mike Hanrahan.
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Marc Lore served as CEO and in November 2014, Jet launched a campaign offering stock options to users generating word-of-mouth for the company in advance of launch.
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Marc Lore has rapidly expanded grocery pickup and delivery and now has about 3,300 stores with grocery pickup and more than 1,850 stores offering grocery delivery, up from just a handful at the time of the Jet acquisition.
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In 2017, Walmart and Marc Lore announced the launch of Store No 8, a technology incubator based in the Silicon Valley.
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At the 2017 Shoptalk conference in Las Vegas, Marc Lore said Store No 8 will work with startups that specialize in areas that include robotics, virtual reality and augmented reality, machine learning, and artificial intelligence.
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However, despite revenue growth, Marc Lore's leadership saw Walmart's e-commerce division incur increasingly large losses, including a loss of approximately $1.4 billion in 2018 and a loss of an estimated $1.7 billion in 2019.
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On May 12,2021 Alex Rodriguez and Marc Lore announced a new venture capital firm called Vision Capital People or VCP.
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Marc Lore launched with $50 million of the pair's own money and could eventually raise $300 million to $500 million.
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In September 2021, Marc Lore announced Telosa, a city he is building from scratch.
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Marc Lore announced he had hired the architectural firm Bjarke Ingels Group owned by Danish architect Bjarke Ingels.
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Marc Lore is the founder, chairman, and CEO of the Wonder Group, a food delivery app.
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In March 2020, Lore publicly challenged a Hall of Fame football player, Jerry Rice, to the 40-yard dash as a part of Rich Eisen's Run Rich Run for St Jude Children's Research Hospital.
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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.
30.
In May 2021, Marc Lore appeared alongside Ray Lewis on the NFL Network's coverage of the NFL Draft as a part of Rich Eisen's Run Rich Run for St Jude Children's Research Hospital.