Chewy, an online pet supplies retailer, ended its first day as a publicly traded company 59% higher. 'I think everyone underestimated how well we would execute and how big of a business we could build,' says founder Ryan Cohen.
Shares of Chewy, which was bought by retailer PetSmart in 2017 for nearly $3.4 billion, soared nearly 80% to about $39 in early trading Friday. The company was valued at more than $15 billion following the stock sale.Chewy priced its initial public offering Thursday at $22 a share. That was above the expected range.The company raised $1 billion from the stock sale and now trades on the New York Stock Exchange under the ticker symbol CHWY.
5 billion. But the company is still losing money. It reported a net loss of $268 million in 2018, following a $338 million loss a year earlier. Chewy is the latest high-profile unicorn IPO to launch with a smash, following in the footsteps of gig economy network Fiverr on Thursday and cybersecurity firm CrowdStrike earlier this week.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Chewy Shares Soar 70% After IPOPet food retailer’s launch surprises market.
और पढो »
Chewy Shares Soar 70% After IPOChewy saw shares jump 70% in the early hours of its market debut by lisettevoytko
और पढो »
PetSmart's Chewy prices IPO at $22 per share, above target -sourceNEW YORK, June 13- Chewy Inc on Thursday priced its initial public offering at $22 per share, above its target, and sold more stock than originally planned, according to a person familiar with the matter, valuing the online pet products retailer at $8.77 billion. Chewy, controlled by private equity-owned PetSmart Inc, had set a price range of $19 to $21 per share, which...
और पढो »
Chewy IPO is no dog: More shares to sell at higher price, total raise tops $1 billionChewy Inc. said Thursday that it will sell more shares at a higher price than it originally expected in an initial public offering. The online pet-products...
और पढो »
PetSmart's Chewy gets Wall Street tails wagging with $1 billion IPOChewy Inc said on Thursday it priced its initial public offering at $22 per shar...
और पढो »
Chewy IPO: 5 things to know about the ‘pet humanization’ products sellerShares of Chewy Inc. rocketed in their public debut Friday, as investors looked to buy into the rapidly growing online seller that says it is feeding on a...
और पढो »