![]() ![]() Since then, Cohen has been instrumental in a number of changes at GameStop, including the departure of multiple executives and ten members of the board of directors, and the hiring of multiple Amazon and Chewy executives in leadership positions. Cohen's appointment triggered a stock rally within two weeks the stock had increased by 1,500%. Cohen was also appointed chairman to lead a new committee in charge of a company-wide transformation. In January 2021, Cohen joined the GameStop board along with two Chewy executives. In June 2019, Chewy went public at a valuation of $8.7 billion. He grew the business to 3.5 billion in revenue in 2018 prior to stepping down as CEO to pursue personal goals and spend time with his family. Cohen remained CEO following the acquisition and operated the business largely as an independent unit of PetSmart. That year Fortune named Cohen one of its "40 under 40" and Vox named him to its Recode 100 list. In April 2017, PetSmart purchased Chewy for $3.35 billion in the largest e-commerce acquisition of all time. By 2017, he raised $350 million and was preparing for an IPO. That year the company had $900 million in sales and had become the number 1 online pet retailer. By 2016, he had raised capital from investors including BlackRock and T. In 2013, Cohen secured the company's first outside investment from Volition Capital for $15 million. In need of capital, Cohen says he originally approached over 100 venture capital firms and was rejected by all of them. He cites his father Ted, who ran a glassware importing business, as a mentor. Cohen says his inspiration for picking the pet category came from his experience shopping for his poodle Tylee. In 2011, at the age of 25, Cohen founded Chewy under its original name of MrChewy. Career Īt the age of 15, Cohen started his first business collecting fees off referrals to various e-commerce sites. He never attended college, citing his father, who ran a glassware company, as his primary inspiration in pursuing an entrepreneurial route. Cohen was born to a Jewish family in Montreal. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |