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From Home Furnishing Business Acquires Hayneedle

Online retailer has acquired Hayneedle, the home furnishings e-commerce retailer.

Hoboken, N.J.-based Jet has Amazon in its sights, and the Hayneedle acquisition puts Jet into the home furnishings business. Hayneedle will maintain its headquarters in Omaha, Neb., and will operate as a subsidiary of Jet.

Jet employs 1,000 people and plans to retain Hayneedle’s 500 employees. Terms of the deal were not disclosed.

Jet has raised more than $700 million and has been valued at $1.5 billion at the close of a recent round of funding. Hayneedle boasts more than $350 million in sales.

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