By offering bargain prices and overnight shipping, Diapers.com lost money on diapers but made money by “selling everything else,” including clothes, toys and strollers.

“The loss, albeit, was a lot larger because you had to pay for shipping,” Lore said. “But you also had a lot more products online than in the store.”

Amazon bought the Diapers.com parent company, Quidsi, for roughly $545 million in 2010, and Lore joined Amazon for two years. (Amazon later shut down Diapers.com and similar sites like Soap.com for lack of profitability.)

But Lore was again looking to capture his own slice of Amazon’s online retail pie. With co-founders Mike Hanrahan and Nate Faust, Lore launched Jet.com in 2015. The focus was on lower prices, with discounts adding up for larger shopping carts, as opposed to faster shipping.

Walmart bought the business for $3.3 billion in 2016 and made Lore Walmart’s CEO for U.S. e-commerce, a role he held until 2021.

As the largest Jet stockholder, Lore received $477 million in cash from Walmart, the bulk of which was contingent on him staying at the company for five years, according to a company filing. Walmart also awarded him stock options worth, at the time, $235 million, which is what gave Lore a 2016 compensation package of nearly $237 million.

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