Jet.com Grounds its $50 Annual Membership

Jet.com launched three months ago as an Amazon.com rival promising rock-bottom prices for members willing to part with $50 for its annual membership. But just as the e-commerce site's free trial is set to end, company officials have decided to ditch the fee model that was to be its prime revenue generator. Instead, it will rely on commissions paid by retailers that Jet initially had planned to pass on to shoppers in the form of deeper discounts.