His wife and son will only benefitbut their own ventures are currently private. I love to be challenged, and Im flexible on details, but Im never willing to give up. He has said that hes the largest individual shareholder of Apple, with 1.55 million shares of the tech giant, now 6.2 million split-adjusted shares, according to MarketWatch. He had no interest in material possessions. By June, Cohen and his colleagues will control the majority of the company's board. Ryan Cohen - Forbes It had an incredible infrastructure, established relationships with customers and suppliers, and endless capital. Most people assume that the high point of my professional career came on April 18, 2017, when the owners of PetSmart paid $3.35 billion for Chewy.com, the pet retailer I had cofounded six years earlier. The lawsuit alleges that the Cohens acquired the 11,338-square-foot mansion, with eight bedrooms and nine bathrooms, through a trust in October for$23.9 million. [50][51] The company has more than 18,000 employees in the United States as of 2021. I just knew how strong it was and how fanatical pet owners are.". Who Is Ryan Cohen? Meet Chewy Founder Up Close - FameShala We can keep sources anonymous. By clicking Sign up, you agree to receive marketing emails from Insider In a statement, Cohen wrote, "In a short time span, Chewy has gone from a concept to disrupting and redefining an entire industry. Check your inbox to be the first to know the hottest news. Above all, he taught me that the best decisions come from heart, instincts and empathy. Larry had gone out on a limb for us. Sign up for notifications from Insider! It's who he was. [16], Following the acquisition, Cohen remained CEO and operated the business largely as an independent unit of PetSmart. Founder of Chewy. Second, Pets.com existed at a time when most people had dial-up internet and werent comfortable making purchases online. Ryan Cohen has moved onto other companies, but his legacy - LinkedIn Nordstrom appointed former Nike executive Eric Sprunk to its board. Copyright 2023 Entrepreneur Media, Inc. All rights reserved. Ryan Cohens story is an inspiring one. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Tuko.co.ke recently published a piece about Lupita Nyongo net worth. The lawsuit adds to a number of commission-related lawsuits filed in recent months in South Florida. Cohen also served as CEO of Chewy, which PetSmart acquired in 2017 for $3.35 billion, which at the time was the largest e-commerce acquisition ever. We opened our first two warehouses in 2014. Years later, he sold the company for over $3 billion, raking in a huge paycheck. Chewy's Founder Cashes Out and Bets On Apple and Wells Fargo - Bloomberg , Best Buy [8][5] From 2014 to 2015, sales grew from $205 million to $423 million. We believed combining the experience of the neighborhood pet store with the convenience of shopping online was a key differentiator. Ellimans Dina Goldentayer brokered the deal. The focus isn't on making one-off transactions but on turning customers into lifelong clients, Cohen said. The idea is to "wow" the customer and to provide a "delightful experience where they would never dream of shopping elsewhere.".