PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
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Bauguss has a cautionary note for site operators struggling to resolve such issues on their own. “We were waiting for that eureka piece of code that would fix everything instantly, but it didn’t happen that way,” Bauguss says. “It took a lot of learning.”
While Broadbent notes that the effort turned sales around in a matter of a few weeks, he jokes that it felt like years. But all three of TShirtKing’s executives agree on a key point of the experience of resolving the issue internally versus seeking outside help. “Compared to what it could have cost,” says Van Bibber, “this was a low cost solution.”