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Jun 14, 2019 · 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...
- Sold It to PetSmart Six Years Later
The Fort Lauderdale-based company is known for its 24-hour...
- Sold It to PetSmart Six Years Later
Apr 19, 2024 · At the time, Chewy was a rapidly growing but still privately held company, generating close to $900 million in annual sales. Founded just six years earlier by entrepreneurs Ryan Cohen and Michael Day, Chewy had quickly established itself as a major disruptive force in the pet supplies industry.
Nov 17, 2021 · If you own a pet you’ve heard of Chewy — here’s why Ryan Cohen and Michael Day succeeded where Pets.com failed Personalized customer service, as well as timing, helped the founders grow Chewy into a $31 billion specialty pet retail brand.
- Amy Lamare
- Watch Your Expenses
- Delight Your Customers
- Be The Person Others Want to Follow
- Take The Long View
- Trust Yourself
Disciplined capital allocation is one of the most important skills for running a successful business. Thanks to my father, I had the privilege of learning this firsthand. He kept track of every expense —his power bills, daily gasoline prices that impacted transportation costs, the individual prices of hundreds of glassware products that he sold. My...
My father always repeated this quote from his own father: "If you take a carload of this (pointing to a pallet of glassware) you'll make more money. But if you take a carload of that (pointing to a different pallet), you'll make less money, but you'll keep the customer. So, take a carload of that." Related: Getting Into Subscription Ecommerce? Don'...
My father led by example, but not in a deliberate way. It's who he was. He never patronized anyone. He admired the blue-collar worker. I watched him roll up his sleeves and help his employees move shipments of glassware from trucks into the warehouse, then put his suit jacket back on, shirt drenched in sweat, and do administrative work. I've never ...
My father was never looking to make a quick buck. He had no interest in material possessions. Every year, through thick and thin, he invested his savings into the stock market. He believed the real money was made through time in the market, not timing the market. When I was 13, he gave me a chart comparing real estate to stock market returns since ...
Entrepreneurs don't operate with a handbook. My father taught me how to be independent and trust my own moral compass. He encouraged me to separate myself from the herd and think critically. When I told him I had no desire to go to college, he shrugged. Whether he agreed with my decisions or not, he supported me unconditionally. Letting me make my ...
Within a few months, Cohen and his cofounder, Michael Day, had pivoted from jewelry and were selling pet food online under the name of Mr. Chewy, which later became Chewy.com. In the 10...
Nov 19, 2021 · In April 2017, Cohen and Day sold Chewy to PetSmart for $3.35 billion. The deal was the largest e-commerce acquisition in history at the time. But that wasn’t the end of the story for Chewy.
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As Ryan Cohen was on the verge of launching an online jewelry business with his friend Michael Day, he had a revelation: He was standing in a local pet store with his toy poodle, Tylee,...
