Ryan Cohen

Ryan Cohen is a name that has become synonymous with GameStop’s meteoric rise in the stock market. He is the founder of Chewy.com, an online pet food and supply store, which he sold to PetSmart for $3.35 billion in 2017. Cohen is a serial entrepreneur and investor known for his tenacity and keen business acumen.

Born and raised in Florida, Ryan Cohen’s interest in entrepreneurship started at a young age. He began his first business venture at the age of thirteen selling Pokemon cards on eBay. This early success fueled his passion for business and inspired him to take on more ambitious ventures.

In 2011, Cohen founded Chewy.com with the help of his college roommate, Michael Day. The two started the business in Cohen’s apartment before it expanded into a full-scale ecommerce operation. It quickly gained a loyal customer base thanks to its exceptional customer service and competitive pricing.

Cohen’s vision for Chewy.com was to make the experience of buying pet supplies online as easy and seamless as possible. He placed a strong emphasis on a customer-first approach that he instilled in all of his employees. This approach became the backbone of Chewy.com’s success, and it helped the company grow rapidly.

In 2017, Cohen sold Chewy.com to PetSmart for $3.35 billion. He remained a board member and advisor to the company for a short while before leaving to pursue other ventures. One of those ventures included an investment in GameStop, a failing video game retailer that he saw potential in.

Cohen’s investment in GameStop became public knowledge in August 2020 when he disclosed that he had bought a 9% stake in the company. He started working behind the scenes and began pushing for changes that he believed could help the company turn around. His vision for GameStop was to pivot the company’s business model from physical retail stores to a more eCommerce-oriented approach, much like what he achieved with Chewy.com.

Under Cohen’s guidance, GameStop began overhauling much of its corporate infrastructure. This involved bringing in new leadership, rebranding the company and recommitting to the core gaming community.

Soon after Cohen’s involvement, GameStop’s stock started to rise, and the world watched as it experienced an unprecedented rally in January 2021. The company’s share price skyrocketed from $20 to over $300 in a matter of weeks. This was a direct result of Cohen’s investment and vision for the company.

Cohen’s impact on GameStop is immense, and his influence is still being felt today. He has become a symbol of the transformational potential of ecommerce and the power of passionate and innovative business leaders.

In conclusion, Ryan Cohen’s success story is a testament to the importance of perseverance, hard work, creativity, and a customer-centric approach. His ability to disrupt traditional industries and create new models of commerce has made him a legendary figure in the business world. His vision for GameStop and his dedication to the gaming community have changed the face of the gaming industry, putting the focus back on the customer and away from corporate profits. Ryan Cohen is a visionary who has proven that even the biggest challenges can be overcome with the right attitude and approach.