Pet industry e-commerce heating up
Just over a month ago, the largest M&A deal in e-commerce history took place. To the surprise of many, it was a pet e-commerce company, Chewy.com, which was acquired by Petsmart for a cool $3.35 billion (€3 billion), which is nearly $50 million (€44.7 million) more than Walmart paid for Jet.com.
Shortly before the Chewy.com deal, Rover.com acquired DogVacay in an all-stock deal – and not long before that, Whistle, a company making dog GPS and activity trackers was acquired by leading CPG Mars for $117 million (€105 million). The pet industry, which until recently was largely ignored, seems to be suddenly heating up.