Key Points PetSmart acquired Chewy.

Com in 2017 for $3 billion to add an online business to complement its store base, as trends shifted online.

Chewy was founded in 2011 by Ryan Cohen and Michael Day.

Following the IPO, PetSmart will remain the majority owner of Chewy.

Related Tags Chewy IncTechnologyApparel RetailMergers and acquisitionsRetail industry.