The Secret Weapon Behind Chewy Founder Ryan Cohen's Success | Entrepreneur
www.entrepreneur.com
From starting his company to selling it to PetSmart for $3.35 billion, Cohen always had someone to turn to for advice.
  • Watch your expenses
  • Delight your customers
  • Be the person others want to follow
  • Take the long view
  • Trust yourself
  • @epicsninjaEnglish
    7•1 year ago

    Wasn’t the company running at a massive deficit until it was sold?

    • XanthraxEnglish
      10•1 year ago

      It was! I got that information from a biased source though, I worked with Petco corporate.

      The idea is: you operate at a loss to undercut your competitors, in hopes you’ll attract long time customers. Eventually, they either ramp up costs, or legitimately have a way to cut down the costs of operations. Usually, it’s the latter.

      If I remember correctly, most of their money was also spent on marketing, which honestly worked. We’ll see how that continues to play out, though.

  • OverzeetopEnglish
    -13•1 year ago

    How’s that BBBY turnaround going? And GameStop - that’s a $1000/share company now, right?