Could Jet threaten Amazon? has raised $220 million so far for an ecommerce service with around 1,600 retail partners, and plans to sell some 10 million products when it launches in the coming weeks.

While its retail site is not yet available to the public, many are already touting as a potential alternative to Amazon.

The startup will charge $49 a year for membership to allow consumers to get “the lowest price on anything they buy online,” according to a Jet spokesman. With in its beta testing phase, a number of media reports suggest that its prices on goods ranging from electronics to household products are lower than those of Amazon.

Jet will use dynamic pricing which can change with the number of items placed in a basket. This is done by a team of engineers who are said to be constantly recalculating which seller can send that entire order to you most efficiently and cheaply.

Jet is led by Marc Lore, a founder of online retailer Quidsi — including and — sold to Amazon in 2011 for $545 million.

Some analysts believe it may be difficult to compete with Amazon, which sells not only physical goods but connects with customers though ebooks, music, video and other services which won’t be available on