WHO'S a good business model? It's YOU! Yes it is! You're SUCH a good business model! Yes you are!
Bloomberg Businessweek|November 23 - 30, 2020
Locked-down Americans are pampering their pets like never before, and Chewy is reaping the benefits
By Anders Melin and Bryan Gruley
WHO'S a good business model? It's YOU! Yes it is! You're SUCH a good business model! Yes you are!

The usual suspects topped the list of the best-paid executives in the U.S. published by Bloomberg News in July. No. 1 was Tesla Inc.’s Elon Musk, with a 2019 payday of nearly $600 million, followed by Apple Inc.’s Tim Cook at $134 million. The top 10 also included bosses at Intel, Alphabet, and Blackstone Group.

The list did contain one surprise: At No. 5 stood one Sumit Singh, chief executive officer of Chewy Inc., an online retailer of food, toys, apparel, and medicine for pets. Singh joined Chewy in 2017, was elevated to CEO after seven months, and in 2019, his first full year on the job, earned $108.2 million in salary, bonus, and stock grants. That sum was even more remarkable given that Chewy, in nine years of existence, has yet to post a profitable quarter.

But Singh’s haul is another indicator, among many, of the company’s rise as a force in e-commerce. In the fiscal year ended Feb. 2, it sold products to 13.5 million customers, up 27% for the year, while revenue jumped 37% to $4.9 billion. Then came the coronavirus, and things for Chewy got even better.

Denne historien er fra November 23 - 30, 2020-utgaven av Bloomberg Businessweek.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra November 23 - 30, 2020-utgaven av Bloomberg Businessweek.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BLOOMBERG BUSINESSWEEKSe alt
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023