Chewy the “online seller” of pet products plans to release its IPO. The company further has 1600 brands that sell through its e-store. The company is continuously winning the hearts of various pet owners. The pet-centric environment at the company is helping it reach new levels of development. It successfully sells to a huge amount of online audience. Further, the company continues to focus on improving the shopping experience. There is a trend of humanization of pets and chewy is successfully utilizing that to its advantage.
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Some of the interesting details of the public offer
The symbol of its ticker is going to be “CHWY.” The Company is further clearly stating that money generated from this IPO is going to be used for growing the working capital. Some of the underwriters of this IPO are JP Morgan, Morgan Stanley, Allen & Co. and Chase.
Witnessing an amazing growth
Chewy amazingly generated $3.53 billion that is an increase of 68%. Chewy has employee strength of 9,833. Till date, it has more than 110 million orders. Further, there will be a dual stock structure among different class of investors. Share in class A have the power of one vote while the shares in class B have 10 votes. Chewy will not be present in the S&P 500.
Customer satisfaction the key to the company’s growth
The company has seven centres to focus on proper delivery of orders. Chewy is further going to increase its service centres that will handle shipment. It is important to strategically serve the customers and keep them happy. They serve the customers by acting as a neighbourhood store that is ready to serve them. Around 85% of citizens in the US can expect to receive their orders in 24 hours. They have their service centers in key areas that make it easy for them to focus on cost-effective shipping.
