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Chewy's Co-Founder and Former CEO Explains How the Startup Went From Zero to a $8.7 Billion Public Company

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17.06.2019

Ryan Cohen may no longer be Chewy's CEO, but he will always be the guy who made it into a multibillion-dollar brand.

The 33-year-old entrepreneur co-founded the online pet supply store with Michael Day in 2011 and then sold it to PetSmart six years later for $3.5 billion, a deal billed as the largest e-commerce acquisition to date. Cohen stayed on as CEO until March last year--when he says it became clear to him that his work there was "complete." He had grown Chewy from $0 to more than $2.1 billion in sales and turned the company into a well-known brand among pet lovers. In 2018, the year he left, Chewy booked $3.5 billion in revenue, according to regulatory filings.

On Friday, Cohen watched the company hit a new milestone: PetSmart--Chewy's new owner--took the company public at an $8.7 billion valuation. Shares soared 63 percent on opening price, increasing Chewy's market cap to more than $14 billion. Like many other unicorn IPOs this year, Chewy is still unprofitable. It also has a dual-class stock structure........

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