Hi there warriors of the wave. No introduction needed anymore. It's time for your next IPO article. June so far has been an INCREDIBLE month for so many traders, and my objective with this is to just introduce you to an upcoming IPO that you may (or may not) want to make some plays with! It's up to you; and either way there are so many moves happening in the markets at any given time that you have no traders remorse! This IPO is a company that I truly love, and use quite often! That company is Chewy!
Chewy, while sounding like it could be a StarsWars fan club, is a solely online retailer of pet food and other assorted pet products. Fun fact: Chewy is actually owned by PetSmart (PETM) and was acquired in May of 2017 for a whopping $3.35 billion! It was founded in 2011 by Ryan Cohen and Michael Day and has grown significantly in just 8 years. They currently have around 8,000 employees and are headquartered in Dania Beach, Florida (wow, finally a company that is not headquartered in California)!
Chewy's business model is similar to Amazon. Becoming the online retailing expert, just for pet products. They sell everything from the obvious pet food to toys and healthcare. Chewy was one fo the first pet retailers to implement the "Autoship" feature which when opted in, will automatically ship your pets food to you on a schedule for a small discount. Shortly after they started this program other pet stores with online presences followed. Chewy has not done too shabby since it's inception. In March 2012, the company estimated a total yearly revenue of $26 million, despite losing money in its first half year. By 2017, that yearly revenue has grown to over $2