In a world where there is a booming culture of investment, entrepreneurship, and growth, Ryan Cohen is a name that deserves a special mention in the list. His rise to fame is a typical Wall Street story that everyone should know about.
Ryan is famous for being the founder of Chewy, the famous pet e-commerce platform that gained immense popularity in recent times. He recently sold the company, which led to him becoming a billionaire.
This article will discuss all that you need to know about Ryan Cohen, his net worth, his career graph, and his early and personal life.
Ryan Cohen was born in 1985 in Montreal. He was born into a Jewish family and he grew up following a lot of native culture and traditions that he picked up from his family.
There’s not much public information known about Ryan but it is believed that his father was one of the most popular entrepreneurs of his time and he owned his glassware business.
Ryan has kept his childhood and early life information away from the media spectacle and rightfully so. But, reports suggest that he is a college dropout. The idea for Chewy came to his mind whilst he was shopping for essentials for his dog from the store.
Ryan Cohen is extremely private about his marriage and his family life. He is married and the couple have a son together. There are a few public images of Ryan with his son but he has managed to keep his wife’s identity and image out of the public eye. Ryan likes to only keep things about his professional life out in public.
Upon having the idea of the Chewy strike, Ryan didn’t waste a single minute and started working on the idea. He launched the company as Mr. Chewy, which was later shortened to Chewy. Back when he launched his company, Ryan’s business was competing against an established brand like Pets.com.
Ryan was also aware of the fact that the kind of products he was planning to sell on Chewy was already available on Amazon, which meant that he was competing against them too.
However, Ryan was adamant about making it in the industry, which is when he started to prioritize treating the customers with utmost care. As Chewy’s sales started growing, the business ended up receiving purchase offers from different companies.
But, it wasn’t until Pet Smart offered them an all-cash offer of $3.35 billion that Ryan decided to settle for the offer. Following selling Chewy, the next brand that Ryan took over was Game Stop. Soon after a few months of taking over the business, its valuation climbed to $7 billion.
Following selling Chewy, Ryan Cohen now has an estimated net worth of $2 billion. Besides racking a good amount of money from there, Ryan also earns from his involvement in other business ventures like Game Stop and Bed, Bath, and Beyond. He is also an active investor, which further contributes to his net worth.
1. What is Ryan Cohen’s connection to GameStop?
In 2020, Ryan Cohen gained attention for acquiring a significant stake in GameStop and pushing for changes in the company’s strategy. His involvement led to a shift in focus towards e-commerce and digital sales.
2. What changes did Ryan Cohen propose for GameStop?
Ryan Cohen advocated for GameStop to shift its focus towards e-commerce and digital sales, aiming to transform the company into a more competitive player in the changing retail landscape.
3. What other businesses has Ryan Cohen been involved in?
Apart from Chewy and GameStop, Ryan Cohen has been involved in other ventures and investments.