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CodyEustice
Cody Eustice
Articles (550)  | Author's Website |

Chewy CEO, Founder Discuss IPO With CNBC

IPO above $22 per share gives the company a market value just shy of $9 billion

June 14, 2019 | About:

Overview

Chewy Inc. (NYSE:CHWY), an online retailer of pet food and other pet-related products, went public on Friday. 

The company has fulfillment centers in Texas, Nevada, Pennslyvania, Flordia and Indiana. In 2018, it generated $3.5 billion in sales, up 67% from the previous year. The company narrowed its losses to $267.8 billion in 2018, down 21% from the previous year.

On its first day of trading, shares rose 70% in just a few hours.

In the wake of its initial public offering, Chewy's founder, Ryan Cohen, and CEO Sumit Singh appeared on CNBC to talk about the company and its future.

Cohen sold Chewy to PetSmart a few years ago for $3 billion.

Founder interview

CEO interview

Chewy CEO Sumit Singh on the IPO, competing with Amazon and more from CNBC.

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