Marc Eric Lore (pronounced LorEE, born May 16, 1971) is an American entrepreneur, businessman, investor, and NBA owner. In December 2021,
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...
reported that Lore is now the Founder,
Chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
, and
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of the Wonder Group. From 2016 to 2021, he was the
President
President most commonly refers to:
*President (corporate title)
*President (education), a leader of a college or university
*President (government title)
President may also refer to:
Automobiles
* Nissan President, a 1966–2010 Japanese ful ...
and
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of
Walmart
Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...
U.S. eCommerce. Lore was appointed in September 2016 to lead Walmart's e-commerce division when his company
Jet.com
Jet.com was an American e-commerce company headquartered in Hoboken, New Jersey. The company was co-founded in 2014 by Marc Lore (who had previously sold Diapers.com to Amazon.com), along with Mike Hanrahan and Nate Faust. Jet.com raised $820 mi ...
—an e-commerce website launched in 2014—was acquired by Walmart, Inc. Walmart purchased Jet for $3.3 billion. Prior to Jet, Lore was the CEO and co-founder of
Quidsi
Diapers.com was an online specialty retailer for baby products from 2005 to 2017. It was founded by Marc Lore and Vinit Bharara in Montclair, New Jersey. Initially named 1800DIAPERS, the company set out delivering consumables, such as diapers, ...
, the parent company of a family of websites, including Diapers.com. Quidsi was sold in 2011 to
Amazon
Amazon most often refers to:
* Amazons, a tribe of female warriors in Greek mythology
* Amazon rainforest, a rainforest covering most of the Amazon basin
* Amazon River, in South America
* Amazon (company), an American multinational technology c ...
for $545 million. Lore was named regional Entrepreneur of the Year by
Ernst & Young
Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...
in 2011, one of the "smartest people in technology" by ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
,'' and dubbed the
LeBron James
LeBron Raymone James Sr. (; born December 30, 1984) is an American professional basketball player for the Los Angeles Lakers of the National Basketball Association (NBA). Nicknamed "King James", he is widely considered one of the greatest pl ...
of e-commerce by Matt Higgins.
After stepping down from Walmart, Recode reported that Lore's next venture will be "a multi-decade project to build 'a city of the future' supported by 'a reformed version of capitalism'", announced in September 2021 as
Telosa
Telosa is a proposed utopian planned US city conceived by American billionaire Marc Lore and announced in September 2021. The project has a target population of 5 million people by 2050, with the first phase of construction expected to house 50, ...
.
Early life
Lore was born in
Staten Island, New York
Staten Island ( ) is a Boroughs of New York City, borough of New York City, coextensive with Richmond County, in the U.S. state of New York (state), New York. Located in the city's southwest portion, the borough is separated from New Jersey b ...
on May 16, 1971, the son of Peter and Chiara Lore. He is the oldest of three children and spent most of his childhood in Staten Island. When he was ten years old his family moved to the Lincroft section of
Middletown Township, New Jersey
Middletown Township is a township in Monmouth County, New Jersey, United States. As of the 2020 United States Census, the township had a total population of 67,106, making it the most-populous municipality in the county and the state's 16th ...
.
His mother was a body builder and personal trainer. During the late 1980s she trained model and actress
Julianne Phillips
Julianne Phillips (born May 6, 1960Dave Marsh, ''Glory Days: Bruce Springsteen in the 1980s'', Pantheon Books, 1987; . pp. 303, 316-18.) is an American model and actress. She began her career as a model in the early 1980s before moving on to act ...
who was
Bruce Springsteen
Bruce Frederick Joseph Springsteen (born September 23, 1949) is an American singer and songwriter. He has released 21 studio albums, most of which feature his backing band, the E Street Band. Originally from the Jersey Shore, he is an originat ...
's wife at the time. Lore's father started a computer consulting company, Chadmarc Systems, named after his two sons.
In seventh grade, Lore got into stocks and began reading books on stock options and what would become known as derivatives – eventually leading him to start his career in finance. In
high school
A secondary school describes an institution that provides secondary education and also usually includes the building where this takes place. Some secondary schools provide both '' lower secondary education'' (ages 11 to 14) and ''upper seconda ...
he started a baseball card company called The Mint with his grade school friend, Lax Chandra.
Education
From fifth until twelfth grade, Lore attended
Ranney School
, motto_translation = Life grants nothing to mortals without great work
, address = 235 Hope Road
, location =
, region =
, city = Tinton Falls
, county ...
in
Tinton Falls, New Jersey
Tinton Falls is a borough in Monmouth County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 17,892,55-meter dash 55 metres is a sprint event in track and field. It is a relatively uncommon non-championship event for indoor track and field. The history of the event lies in the 60-yard dash, which is about 5 inches shorter than 55 metres. Since the 1960s almos ...
.
Lore's classmates called him the human calculator as a young
savant
Savant syndrome () is a rare condition in which someone with significant mental disabilities demonstrates certain abilities far in excess of average. The skills that savants excel at are generally related to memory. This may include rapid calcu ...
with numbers. While sophisticated with math, Lore claims he didn't apply himself and was seen more as a class clown. In high school he and his close friend, and later business partner, Vinit Bharara used to sneak down to Atlantic City and card count at the casinos. Lore has stated that he "didn't apply himself at all" when it came to school. He's said that he was a sophomore in high school when he first realized you have to actually apply to college – "I always thought you could just pick the school you wanted to go to."
After graduating high school in 1989, Lore attended
Bucknell University
Bucknell University is a private liberal arts college in Lewisburg, Pennsylvania. Founded in 1846 as the University at Lewisburg, it now consists of the College of Arts and Sciences, Freeman College of Management, and the College of Engineering. ...
. He was on Bucknell's
track and field
Track and field is a sport that includes athletic contests based on running, jumping, and throwing skills. The name is derived from where the sport takes place, a running track and a grass field for the throwing and some of the jumping events ...
team specializing in the
100-meter
The 100 metres, or 100-meter dash, is a sprint race in track and field competitions. The shortest common outdoor running distance, the dash is one of the most popular and prestigious events in the sport of athletics. It has been contest ...
long jump
The long jump is a track and field event in which athletes combine speed, strength and agility in an attempt to leap as far as possible from a takeoff point. Along with the triple jump, the two events that measure jumping for distance as a gr ...
, and
javelin
A javelin is a light spear designed primarily to be thrown, historically as a ranged weapon, but today predominantly for sport. The javelin is almost always thrown by hand, unlike the sling, bow, and crossbow, which launch projectiles with th ...
events. In 1993 he received a
Bachelor of Arts
Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four years ...
in business management and economics, graduating
cum laude
Latin honors are a system of Latin phrases used in some colleges and universities to indicate the level of distinction with which an academic degree has been earned. The system is primarily used in the United States. It is also used in some Sou ...
.
After starting his banking career, Lore enrolled in
Columbia University
Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...
but dropped out before completing his master of statistics degree. During this time he did complete the
Chartered Financial Analyst
The Chartered Financial Analyst (CFA) program is a postgraduate professional certification offered internationally by the American-based CFA Institute (formerly the Association for Investment Management and Research, or AIMR) to investment and fina ...
three-year program.
Lore also enrolled in
The Wharton School
The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in P ...
at the
University of Pennsylvania
The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universitie ...
. He dropped out after one year in the
MBA
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
program to pursue Diapers.com. It was at Wharton where he met Scott Hilton during a study group – Hilton would later become employee #1 at Diapers.com.
Career
Early career
After graduating college in 1993, Lore began his career at
Bankers Trust
Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpor ...
in
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. He held various investment banking positions, including vice president of emerging markets risk management at
Credit Suisse First Boston
Credit Suisse First Boston (also known as CSFB and CS First Boston) is the investment banking affiliate of Credit Suisse headquartered in New York.
The company was created by the merger of First Boston, First Boston Corporation and Credit Suisse, ...
and executive vice president of Sanwa International Bank in
London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
, where he was head of the bank's Risk Management Division.
In 1997, while at Credit Suisse First Boston, Lore and his colleague, Lev Borondovsky, started the
Global Association of Risk Professionals
Global Association of Risk Professionals (GARP) is a not-for-profit organization and a membership association for risk managers. Its services include setting standards, training, education, industry networking, and promoting risk management practi ...
(GARP) and founded the
Financial Risk Manager
Global Association of Risk Professionals (GARP) is a not-for-profit organization and a membership association for risk managers. Its services include setting standards, training, education, industry networking, and promoting risk management practi ...
(FRM) – a certification for financial risk managers. Today an estimated 50,000 people have earned the certification while the Global Association of Risk Professionals (GARP) has over 150,000 members from 195 countries. Lore and Borondovsky also wrote The Professional's Handbook of Financial Risk Management.
The Pit
In 1999, Lore co-founded The Pit, Inc., an Internet market-making collectible company constructed as an alternative to
eBay
eBay Inc. ( ) is an American multinational e-commerce company based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995 and became a ...
. Lore served as CEO and The Pit was sold to the sports collectibles company, The
Topps
The Topps Company, Inc. is an American company that manufactures chewing gum, candy, and collectibles. Formerly based in New York City, Topps is best known as a leading producer of American Football Card, American football, Baseball card, baseb ...
Company, Inc. for $5.7 million in 2001. Following the acquisition, Lore joined Topps as chief operating officer of gaming subsidiary WizKids.
Quidsi (Diapers.com)
In 2005, Lore and Vinit Bharara founded 1800DIAPERS, later rebranded as Diapers.com. Lore served as CEO. The company was sold to
Amazon
Amazon most often refers to:
* Amazons, a tribe of female warriors in Greek mythology
* Amazon rainforest, a rainforest covering most of the Amazon basin
* Amazon River, in South America
* Amazon (company), an American multinational technology c ...
in 2011 for $545 million, and Lore then worked for Amazon for over two years.
Jet.com
In 2014, Lore founded eCommerce company, Jet with Nate Faust and Mike Hanrahan. Lore served as CEO and in November 2014, Jet launched a campaign offering
stock options
In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date ...
to users generating word-of-mouth for the company in advance of launch. In January 2015, Jet was featured in a cover story in
Bloomberg Businessweek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...
, in which it was revealed that Jet would be a shopping club in which members will pay an annual fee of $49.99 to access the lowest prices on millions of items, although the membership fee was eliminated in October 2015.
In February 2015 Jet raised $140 million in pre-launch funding from investors including
Bain Capital Ventures
Bain Capital Ventures LLC is the venture capital division within Bain Capital, which has approximately $160 billion of assets under management worldwide. The firm's early-stage investments have included Attentive, Bloomreach, Clari, Docusign, Fl ...
,
Accel Partners
Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional ...
New Enterprise Associates
New Enterprise Associates (NEA) is an American-based venture capital firm. NEA focuses investment stages ranging from seed stage through growth stage across an array of industry sectors. With ~$25 billion in committed capital, NEA is one of the w ...
, and others.
Beta testers in May 2015 reported cheaper prices than Amazon but longer delivery times. On July 21, 2015, Jet.com opened to the public.
On August 8, 2016,
Walmart
Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...
announced it had agreed to acquire Jet.com for $3.3 billion. Following the acquisition, Lore was appointed president and chief executive officer of Walmart U.S. eCommerce.
On May 19, 2020,
Walmart
Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...
announced that it was shutting down Jet, directing visitors to use
Walmart.com
Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...
instead.
Walmart
After its first full year with Lore at the helm, Walmart's U.S. eCommerce sales grew 44%.
According to Fool.com, "In the three full fiscal years since the Jet acquisition Walmart's eCommerce sales have nearly tripled, jumping 176%. The company 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. Under the guidance of Lore, the company rolled out free two-day delivery for orders over $35 without a membership fee to compete with
Amazon Prime
Amazon Prime is a paid subscription service from Amazon which is available in various countries and gives users access to additional services otherwise unavailable or available at a premium to other Amazon customers. Services include same, one- ...
, and that was accelerated to free one-day delivery last year, shortly after Amazon made the same move in Prime. In the most recent quarter, Walmart expanded ship-from-store capabilities to 2,500 stores, leveraging the power of its store base, and it launched Express Delivery, promising delivery in two hours."
In 2017, Walmart and Lore announced the launch of Store No. 8, a technology incubator based in the Silicon Valley. The initiative was named after an early Walmart store that founder,
Sam Walton
Samuel Moore Walton (March 29, 1918 – April 5, 1992)
was an American business magnate best known for founding the retailers Walmart and Sam's Club, which he started in 1962 and 1983 respectively. Wal-Mart Stores Inc. grew to be the world's l ...
, used to try out new retail strategies. At the 2017 Shoptalk conference in
Las Vegas
Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...
, Lore said Store No. 8 will work with startups that specialize in areas that include
robotics
Robotics is an interdisciplinary branch of computer science and engineering. Robotics involves design, construction, operation, and use of robots. The goal of robotics is to design machines that can help and assist humans. Robotics integrat ...
,
virtual reality
Virtual reality (VR) is a simulated experience that employs pose tracking and 3D near-eye displays to give the user an immersive feel of a virtual world. Applications of virtual reality include entertainment (particularly video games), educ ...
and
augmented reality
Augmented reality (AR) is an interactive experience that combines the real world and computer-generated content. The content can span multiple sensory modalities, including visual, auditory, haptic, somatosensory and olfactory. AR can be de ...
,
machine learning
Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence.
Machine ...
, and
artificial intelligence
Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by animals and humans. Example tasks in which this is done include speech re ...
.
However, despite revenue growth, 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.
Post-Walmart
After stepping down from Walmart, Recode reported that Lore's latest project will be "a multi-decade project to build 'a city of the future' supported by 'a reformed version of capitalism.'"
Lore is active on
LinkedIn
LinkedIn () is an American business and employment-oriented online service that operates via websites and mobile apps. Launched on May 5, 2003, the platform is primarily used for professional networking and career development, and allows job se ...
sharing entrepreneurial and business advice almost daily. He hosts a show called Startup Standup that focuses on mentoring female founders.
eVTOL
An electric vertical take-off and landing (eVTOL) aircraft is a variety of VTOL (vertical take-off and landing) aircraft that uses electric power to hover, take off, and land vertically. This technology came about thanks to major advances in elec ...
) company focused on "advancing the benefits of sustainable air mobility." In February 2021, Archer announced Lore would be investing an additional $10 million as the company announced their $1 billion purchase order from
United Airlines
United Airlines, Inc. (commonly referred to as United), is a major American airline headquartered at the Willis Tower in Chicago, Illinois.
Alex Rodriguez
Alexander Emmanuel Rodriguez (born July 27, 1975), nicknamed "A-Rod", is an American former professional baseball shortstop and third baseman, businessman and philanthropist. Rodriguez played 22 seasons in Major League Baseball (MLB) for the ...
and Lore announced a new
venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...
firm called Vision Capital People or VCP. The new company, which will be called Vision/Capital/People, or VCP, launches with $50 million of the pair's own money and could eventually raise $300 million to $500 million. Rodriguez and Lore plan to take early-stage stakes of 40% to 80% in their portfolio companies, much larger than the typical venture approach, a model that Lore said he found "frustrating" when he sought capital for his previous startups. Their first investment was NOW//with, a social commerce company.
On July 21, 2021 Lore,
Alex Rodriguez
Alexander Emmanuel Rodriguez (born July 27, 1975), nicknamed "A-Rod", is an American former professional baseball shortstop and third baseman, businessman and philanthropist. Rodriguez played 22 seasons in Major League Baseball (MLB) for the ...
, and Dave Portnoy were named as investors of online brokerage firm, Tornado.
Minnesota Timberwolves
On April 10, 2021, Lore and
Alex Rodriguez
Alexander Emmanuel Rodriguez (born July 27, 1975), nicknamed "A-Rod", is an American former professional baseball shortstop and third baseman, businessman and philanthropist. Rodriguez played 22 seasons in Major League Baseball (MLB) for the ...
signed a letter of intent to purchase the
Minnesota Timberwolves
The Minnesota Timberwolves are an American professional basketball team based in Minneapolis. The Timberwolves compete in the National Basketball Association (NBA) as a member of the league's Western Conference Northwest Division. Founded in 19 ...
and
Minnesota Lynx
The Minnesota Lynx are an American professional basketball team based in Minneapolis, playing in the Western Conference in the Women's National Basketball Association (WNBA). The team won the WNBA title in 2011, 2013, 2015, and 2017.
Founded pr ...
from
Glen Taylor
Glen Allen Taylor (born April 20, 1941) is an American billionaire business magnate and politician from Minnesota. A self-made businessman, Taylor made his fortune from being the founder and owner of Minnesota-based Taylor Corporation, one of th ...
.
The deal became official on July 21, 2021 as the
NBA
The National Basketball Association (NBA) is a professional basketball league in North America. The league is composed of 30 teams (29 in the United States and 1 in Canada) and is one of the major professional sports leagues in the United St ...
approved
Alex Rodriguez
Alexander Emmanuel Rodriguez (born July 27, 1975), nicknamed "A-Rod", is an American former professional baseball shortstop and third baseman, businessman and philanthropist. Rodriguez played 22 seasons in Major League Baseball (MLB) for the ...
and Lore's purchase of the
Minnesota Timberwolves
The Minnesota Timberwolves are an American professional basketball team based in Minneapolis. The Timberwolves compete in the National Basketball Association (NBA) as a member of the league's Western Conference Northwest Division. Founded in 19 ...
.
Telosa
In September 2021, Lore announced
Telosa
Telosa is a proposed utopian planned US city conceived by American billionaire Marc Lore and announced in September 2021. The project has a target population of 5 million people by 2050, with the first phase of construction expected to house 50, ...
, a city he is building from scratch. The project has a target population of 5 million people by 2050, with the first phase of construction expected to house 50,000. The project's planners intend for the city to be built on desert land, with Utah, Idaho, Nevada, Arizona, Texas, and Appalachia proposed as potential locations. The name Telosa is derived from the Ancient Greek word telos, meaning "higher purpose".
Lore announced he had hired the architectural firm
Bjarke Ingels Group
Bjarke Ingels Group, often referred to as BIG, is a Copenhagen and New York based group of architects, designers and builders operating within the fields of architecture, urbanism, research and development. The office is currently involved in a ...
(BIG) owned by Danish architect
Bjarke Ingels
Bjarke Bundgaard Ingels (; born 2 October 1974) is a Danish architect, founder and creative partner of Bjarke Ingels Group (BIG).
In Denmark, Ingels became well known after designing two housing complexes in Ørestad: VM Houses and Mountain D ...
.
The proposed land ownership in the city is inspired by
Georgist
Georgism, also called in modern times Geoism, and known historically as the single tax movement, is an economic ideology holding that, although people should own the value they produce themselves, the economic rent derived from land—including ...
principles, as advocated by political economist
Henry George
Henry George (September 2, 1839 – October 29, 1897) was an American political economist and journalist. His writing was immensely popular in 19th-century America and sparked several reform movements of the Progressive Era. He inspired the eco ...
in his 1879 book ''
Progress and Poverty
''Progress and Poverty: An Inquiry into the Cause of Industrial Depressions and of Increase of Want with Increase of Wealth: The Remedy'' is an 1879 book by social theorist and economist Henry George. It is a treatise on the questions of why pover ...
''. Under the proposed rules, anyone would be licensed to build, keep or sell a home, building or any other structure, but the city would retain ultimate ownership of the land.
Wonder
Lore is currently the Founder,
Chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
, and
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
of the Wonder Group. In December 2021,
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...
reported Lore's involvement in Wonder, "Whether Americans are looking to order a quick bite from a local fast-food chain, or they want to feel like they’re eating at a five-star restaurant from the comfort of the living room, Marc Lore wants to redefine at-home dining." According to Lore, "It’s really a one-stop shop for all cooked food. And we think there’s a real chance to have a winner-take-all in this market. You don’t really need another app.”
On December 13, 2021, The
New York Post
The ''New York Post'' (''NY Post'') is a conservative daily tabloid newspaper published in New York City. The ''Post'' also operates NYPost.com, the celebrity gossip site PageSix.com, and the entertainment site Decider.com.
It was established ...
reported that "Marc Lore wants someone in
Dallas
Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...
or
Omaha
Omaha ( ) is the largest city in the U.S. state of Nebraska and the county seat of Douglas County. Omaha is in the Midwestern United States on the Missouri River, about north of the mouth of the Platte River. The nation's 39th-largest city ...
— or
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
or LA — to be able to use his new Wonder app to call up a favorite dish from a big-city restaurant and have it delivered to their door — from one of his trucks kitted out with a chef and an oven."
"He’s secured the rights to the menus of top chefs like
Bobby Flay
Robert William Flay (born December 10, 1964), is an American celebrity chef, restaurateur, and reality television personality. Flay is the owner and executive chef of several restaurants and franchises, including Bobby's Burger Palace, Bobby's ...
and sushi dynamo
Daisuke Nakazawa
Daisuke Nakazawa (born 1979) is head chef of the eponymous Sushi Nakazawa in New York City.
According to
Fortune Magazine
''Fortune'' is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The ...
, Wonder has received $500M in "venture funding from partners, including NEA, Accel, GV, General Catalyst, and Bain Capital Ventures."
Professional recognition
In 2019, actress and entrepreneur
Gwyneth Paltrow
Gwyneth Kate Paltrow (; born ) is an American actress and businesswoman. She is the recipient of various accolades, including an Academy Award, a Golden Globe Award, and a Primetime Emmy Award.
Paltrow gained notice for her early work in films ...
called Lore a mentor and business coach, stating: "He's an e-commerce wizard and so he is probably the person I reach out to most for specific questions."
He was named regional Entrepreneur of the Year by
Ernst & Young
Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...
in 2011, one of the "smartest people in technology" by ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
'' magazine, and in 2020 was dubbed "the LeBron James of e-commerce" by businessman Matt Higgins.
After
Jet.com
Jet.com was an American e-commerce company headquartered in Hoboken, New Jersey. The company was co-founded in 2014 by Marc Lore (who had previously sold Diapers.com to Amazon.com), along with Mike Hanrahan and Nate Faust. Jet.com raised $820 mi ...
's acquisition in 2016, Lore made headlines as the highest-paid executive in America.
Personal life
In 1996, Lore qualified for the U.S. National
Bobsled
Bobsleigh or bobsled is a team winter sport that involves making timed runs down narrow, twisting, banked, iced tracks in a gravity-powered sleigh. International bobsleigh competitions are governed by the International Bobsleigh and Skeleton Feder ...
Team but chose to stay with his banking job instead of training, therefore losing his seat on the national team for the
1998 Winter Olympics
The 1998 Winter Olympics, officially known as the and commonly known as Nagano 1998 ( ja, 長野1998), was a winter multi-sport event held from 7 to 22 February 1998, mainly in Nagano, Japan, with some events taking place in the ...
.
In March 2020, Lore publicly challenged a
Hall of Fame
A hall, wall, or walk of fame is a list of individuals, achievements, or other entities, usually chosen by a group of electors, to mark their excellence or Wiktionary:fame, fame in their field. In some cases, these halls of fame consist of actu ...
football player,
Jerry Rice
Jerry Lee Rice (born October 13, 1962) is an American former professional football wide receiver who played in the National Football League (NFL) for 20 seasons. Known primarily as a member of the San Francisco 49ers, winning three championshi ...
, to the 40-yard dash as a part of
Rich Eisen
Richard Eisen (; born June 24, 1969) is an American television sportscaster and radio host. Since 2003, he has worked for NFL Network as a host of various pregame, halftime, and postgame shows. He also hosts a daily sports radio show, ''The Ric ...
Jennifer Lopez
Jennifer Lynn Affleck (' Lopez; born July 24, 1969), also known as J.Lo, is an American singer, actress and dancer. In 1991, she began appearing as a Fly Girl dancer on the sketch comedy television series ''In Living Color'', where she rema ...
and
Alex Rodriguez
Alexander Emmanuel Rodriguez (born July 27, 1975), nicknamed "A-Rod", is an American former professional baseball shortstop and third baseman, businessman and philanthropist. Rodriguez played 22 seasons in Major League Baseball (MLB) for the ...
in a bid to buy the
New York Mets
The New York Mets are an American professional baseball team based in the New York City borough of Queens. The Mets compete in Major League Baseball (MLB) as a member of the National League (NL) East division. They are one of two major league ...
. The deal did not go through.
In May 2021, Lore appeared alongside
Ray Lewis
Raymond Anthony Lewis Jr. (born May 15, 1975) is an American former professional American football, football player who played as a Linebacker#Middle linebacker, middle linebacker with the Baltimore Ravens for his entire 17-year career in th ...
on the
NFL Network
NFL Network (occasionally abbreviated on-air as NFLN) is an American sports-oriented pay television network owned by the National Football League (NFL) and is part of NFL Media, which also includes NFL.com, NFL Films, NFL Mobile, NFL Now and NFL ...
's coverage of the
NFL Draft
The National Football League Draft, also called the NFL Draft or (officially) the Player Selection Meeting, is an annual event which serves as the league's most common source of player recruitment. Each team is given a position in the drafting o ...
as a part of
Rich Eisen
Richard Eisen (; born June 24, 1969) is an American television sportscaster and radio host. Since 2003, he has worked for NFL Network as a host of various pregame, halftime, and postgame shows. He also hosts a daily sports radio show, ''The Ric ...
's Run Rich Run for St. Jude Children's Research Hospital. The event raised over $1.7M for charity, and Lore and Lewis were recognized as the fastest team. Lore's 40-yard dash clocked in at 4.97 seconds, just behind
Michael Vick
Michael Dwayne Vick (born June 26, 1980) is a former American football quarterback. Regarded as having transformed the quarterback position with his rushing abilities, he is the NFL leader in quarterback rushing yards and was the league's firs ...
's time of 4.72 seconds.
See also
*
Telosa
Telosa is a proposed utopian planned US city conceived by American billionaire Marc Lore and announced in September 2021. The project has a target population of 5 million people by 2050, with the first phase of construction expected to house 50, ...