Remember Wag? The dog-walking app made huge waves back in 2018 when it raised $300 million from SoftBank’s Vision Fund.
Competing with rival Rover, Wag’s service fell out of our minds in the years since its mega-deal. Today, Wag is back in the news thanks to a recently announced SPAC deal that will take the company public.
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This means we get a look inside the machine.
In basic terms, Wag’s results detail a company that took blows during the pandemic as folks stayed home, meaning that they needed external dog care less than before. But, with its results ramping up, Wag expects to continue its recovery thanks to workers heading back to the office this year. The office-return dynamics make Wag’s forward-looking projections very interesting.
Let’s hammer through the SPAC deal terms and then look at Wag’s historical results and what it expects for the future. After all, the return-to-office question will impact a host of companies beyond Wag. From Uber to DoorDash and beyond, a return to more old …
