Chewy, which was bought by the retailer PetSmart in 2017 for nearly $ 3.4 billion in 2017, priced its original public offer Thursday at $ 22 per share. It's over the expected range and values of Chewy at $ 8.8 billion.
Sales increased by 68% last year to over $ 3.5 billion. But the company still loses money. It reported a net loss of $ 268 million in 201
] ) video conferencing company Zoom ( PagerDuty ( has all increased since they went public too, a sign that the broader IPO market is still in solid form despite the struggles of ]] Uber ] ] ] and Lift ( )
Chewy hopes that there will be next Beyond Meat and not another flop as uber.
The company may also have to do with unfavorable comparisons with Pets.com, one of the highest profiled disasters in the dot com bubble in the late 1990s and early 2000.