This Founder Made 650 Million from Meme Stocks and also runs a Billion Dollar E-commerce Business

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In this edition of our newsletter, we bring you the story of Chewy - a brand that has revolutionized the pet supplies industry. Our focus today is on Ryan Cohen, the man behind this incredible success story.

A Man with a Vision

In 2011, Ryan Cohen, a young entrepreneur, noticed a gap in the market for online pet supplies. With his partner, Michael Day, they founded Chewy, hoping to ease pet owners' struggles with bulky pet food and supplies. They envisioned a platform where pet supplies were not only readily available but also affordable.

The Inception of Chewy

The journey wasn't easy. Ryan and Michael started Chewy in a small room, where they packaged and shipped their first orders. They faced initial skepticism, but their persistence paid off when they caught the eye of Larry Cheng at Volition Capital. In October 2013, Chewy.com, LLC was formed, marking the beginning of an extraordinary journey.

Overcoming Challenges: The Growth Phase

Despite the rapid growth, Chewy faced its share of challenges. The company had yet to turn a profit, and some questioned its sustainability. However, Ryan Cohen viewed these challenges as opportunities for growth. He focused on building a loyal customer base and providing top-notch customer service.

The Pursuit of Excellence

Ryan Cohen's dedication to customer service set Chewy apart from its competitors. The company invested heavily in trained customer service representatives, available 24/7, and personalized pet portraits for loyal customers. These unique strategies helped Chewy acquire a larger customer base and establish itself as a trusted brand.

The Multi-Billion Dollar Exit

In 2017, the hard work paid off when PetSmart acquired Chewy for a whopping $3.35 billion, the largest e-commerce acquisition at the time. Ryan Cohen continued to lead Chewy as CEO until 2018 and then transitioned into a role on the board of directors.

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