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Jet.com's sale to Walmart just made York County man a millionaire

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Jet.com's sale to Walmart just made York County man a millionaire Empty Jet.com's sale to Walmart just made York County man a millionaire

Post by Admin Thu Sep 01, 2016 1:13 pm

Jet.com's sale to Walmart just made York County man a millionaire FV3YPSJ

Sad

YORK, Pa. - Sum up this story with whichever word you like: Luck. Foresight. Jealousy. In early 2015, Eric Martin spent $18,000 in a bid to win a contest being offered by the new startup Jet.com: Sign up the highest number of people for a preview version of the site, get 100,000 stock options.

CNN Money reported the then-28-year-old funneled money to sites like Swagbucks, getting people to sign up in exchange for rewards. More than 8,000 signups later, he was the winner.

And how. With Walmart's Monday announcement of its $3.3 billion acquisition of Jet.com, the man from York, Pa., will likely reap a seven-figure windfall, reports Bloomberg.

"The way I think to describe it is 'occasional hysterical laughing," the 30-year-old says of his reaction. Reports at the time of his win put the potential value of the shares at up to $20 million, but CNBC reports Martin doesn't know the value of his shares, and Bloomberg explains how that number could be higher or lower due to changes in valuation or the distribution of preferential shares.

http://fox43.com/2016/08/09/jet-coms-sale-to-walmart-just-made-this-random-guy-a-millionaire/

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