Lore had said it stopped placing concierge orders on Nordstrom Inc.’s site when that retailer complained. Two weeks after the site’s launch, more of the nation’s largest retailers including Macy’s Inc., Williams-Sonoma Inc. and Home Depot Inc. complained to Jet when they were informed that the retailer, as part of a separate rewards program, had placed links to their sites without permission, promising its own members cash back for making purchases after clicking the links. At the time, Jet’s chief customer officer, Liza Landsman, had said some of the merchants requesting their brands be removed were unhappy because they view Jet as a competitor, while others insisted Jet negotiate a deal with them first. Another group of merchants was unaware but was happy for Jet to direct traffic to them, she said. When Jet scrapped its plans to charge member fees, it lost a key source of revenue to offset is huge marketing costs. A financial forecast from last October reviewed by the Journal showed Jet would burn $40 million that month, including $25 million of marketing expenses. With $63 million of cash left at the end of October, Jet was on pace to deplete its bank account by year-end. The company avoided a cash crunch when it raised $350 million in November.
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