How Ryan Cohen Turned Chewy into a $3B Business

Founder's Journal

Morning Brew

Careers, Business, Entrepreneurship

4.8 • 1.1K Ratings

🗓️ 25 March 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode I tell the story of Ryan Cohen, a college dropout who became a hometown hero on Wall Street. Check out the full transcript at https://foundersjournal.morningbrew.com to learn more, and if you have any ideas for our show, email me at [email protected] or my DMs are open @businessbarista. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What's up everyone, this is Alex Lieberman,
0:02.4	co-founder and executive chairman of Morning Brew.
0:05.6	Welcome back to Founder's Journal,
0:07.2	my personal audio diary where I give you the business builder,
0:11.1	the tools you need to think better in order to build better,
0:14.2	whether that's building a business, a team, or a new product.
0:18.4	If you're a business nerd, you need to know this crazy business story.
0:21.8	Let's hop into it.
0:27.4	Let's rewind to 2011.
0:29.7	Ryan Cohen was a 25-year-old college dropout,
0:32.4	living in Dania Beach, Florida,
0:34.4	looking to follow in his father's footsteps as an entrepreneur.
0:38.0	He was a week out from starting an online jewelry store with his buddy Michael Day,
0:42.8	when he had a change of heart.
0:44.6	Cohen was standing in a pet store talking to an employee about food for his toy poodle named
0:49.5	Tiley, and he thought to himself, there are millions of people around the globe
0:53.8	with pets who care about what their pets eat.
0:56.8	And so that was how the idea for Chewy.com or,
0:59.8	better yet, Mr. Chewy, the OG name of the business was born.
1:03.5	And the idea was simple, a pet parents go to online destination for pet products.
1:09.4	Ryan and his co-founder, Michael, sold the jewelry inventory
1:13.1	and the safe that they had already purchased to start that original business,
	...

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