PetSmart’s Chewy.com files to go public
NEW YORK — Chewy, the online pet store owned by PetSmart, is going public.
The company said it plans to raise about $100 million, but that is likely to change based on investor demand. It said Monday it expects its ticker symbol to be “CHWY.”
Chewy, which was founded in 2011 and bought by PetSmart in 2017, has never been profitable. It reported a loss of $267.9 million last year on revenue of $3.53 billion.
The company says it wants to grow its in-house brands, increase its pet pharmacy offerings and expand outside the U.S.
Chewy has headquarters in Boston and Dania Beach, Florida, and has seven warehouses around the country where orders are packed and shipped to shoppers.