Apr 29, 2019 - Economy

Pet food e-commerce giant Chewy files for IPO

Beagle being fed

A good boy being fed at the 139th Annual Westminster Kennel Club Dog Show at Madison Square Garden. Photo: Timothy A. Clary/AFP/Getty Images

Chewy, a pet-focused online retailer acquired for $3.3 billion by PetSmart in 2017, filed for an initial public offering on Monday.

The bottom line: Chewy has managed to successfully enter and grow in an e-commerce market where Amazon already played, with revenue climbing 50% last year to $3.5 billion. But it also will join a long line of other unprofitable tech companies going public, with a $268 million net loss for 2018.

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