Chewy's Loyal Customer Base and New Software Business Present Investor Opportunity Despite Lower Valuation
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Chewy started as a niche pet products marketplace in 2011 and has grown into a $11B business, taking market share from incumbents.
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Chewy is profitable now thanks to investments in automation and distribution centers starting in 2020.
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75% of Chewy's sales come from auto-ship/subscription customers.
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Chewy just entered the $11.5B veterinary software market with products like Rhapsody and Practice Hub.
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Chewy is trading at an all-time low valuation despite its new software business, presenting an opportunity for investors.