Wag (company)
{{short description|American pet care company}}
{{Infobox company
| name = Wag Labs, Inc.
| logo = Wag logo.svg
| logo_size =
| caption =
| type = Public
| traded_as = {{ubl|{{NASDAQ|PET}}}}
| foundation = {{start date and age|2015}}
| founder = Brendan Rogers
Joshua Viner
Jonathan Viner
Jason Meltzer{{Cite web|last=Business|first=Sara Ashley O'Brien, CNN|title=Dog-walking startup Wag raised $300 million to unleash growth. Then things got messy|url=https://www.cnn.com/2019/09/27/tech/wag-dog-walking-softbank/index.html|access-date=2020-06-08|website=CNN|date=27 September 2019}}
| location = San Francisco, California, U.S.
| industry = Pet care
| key_people = Garrett Smallwood (CEO)
Olivia Munn (Creative Strategist)
| product =
| website = {{URL|https://wagwalking.com/}}
}}
Wag Labs (better known as simply Wag!) is an American pet care company that offers a technology platform to connect pet owners with independent pet professionals for on-demand and scheduled dog walking, training, and other petcare services through a mobile application.{{cite web|url=https://www.latimes.com/business/la-fi-wag-softbank-20180201-story.html|title=Softbank invests $300 million in dog-walking start-up Wag|author=Alejandra Reyes-Velarde|date=February 1, 2018|archive-url=https://web.archive.org/web/20180321213908/http://www.latimes.com/business/la-fi-wag-softbank-20180201-story.html|archive-date=March 21, 2018|access-date=March 22, 2018|newspaper=Los Angeles Times}} The app has been referred to as "the Uber for Dogs".{{Cite web|url=https://nypost.com/2018/03/09/uber-for-dogs-app-has-lost-3-nyc-pooches-in-a-month/|title='Uber for dogs' app has lost 3 NYC pooches in a month|last=Brown|first=Ruth|date=March 10, 2018|website=New York Post|access-date=June 6, 2019}}{{Cite web|url=https://www.bostonglobe.com/opinion/2018/07/13/can-uber-for-dogs-overcome-fear-strangers/sd7ojO1ZrVs5iITTvblkPL/story.html|title=Can 'Uber for dogs' overcome the fear of strangers?|last=Ramos|first=Dante|date=July 13, 2018|website=Boston Globe|access-date=June 6, 2019}}
History
Wag! was founded in 2015 in Los Angeles, California.{{Cite web|title=Wag Labs Company Profile: Valuation & Investors {{!}} PitchBook|url=https://pitchbook.com/profiles/company/112027-33|access-date=2020-06-08|website=pitchbook.com|language=en}}{{cite web|title=Celebrity Endorsed Dog Walking App Scores $300 Million Investment|url=https://theblast.com/mariah-carey-wag-app-investment-dog/|website=The Blast|accessdate=March 22, 2018|date=February 1, 2018}} In early 2018, Wag! raised $300 million in venture capital funds from Softbank. The company had previously raised $68 million in venture capital.{{cite news|last1=Zhong|first1=Raymond|title=Wag, the Dog-Walking Service, Lands $300 Million From SoftBank Vision Fund|url=https://www.nytimes.com/2018/01/30/business/dealbook/softbank-vision-fund-wag.html|work=The New York Times|date=January 30, 2018}}{{cite web|last1=Piu|first1=Lara|title=We Tried a New Uber-Style Dog Walking Service. Here's What Happened|url=http://www.phoenixnewtimes.com/arts/wag-review-uber-style-dog-walking-service-9359670|website=Phoenix New Times|publisher=2018-06-15|date=June 15, 2017}}
Celebrity users include Mariah Carey, Kendall Jenner, and Chloë Grace Moretz. Actress Olivia Munn serves as an investor and creative strategist.{{cite web |title=Dog-walking app Wag! names actress Olivia Munn as creative strategist |url=https://www.bizjournals.com/losangeles/news/2017/09/19/olivia-munn-named-creative-strategist-at-wag.html |website=www.bizjournals.com |publisher=Biz Journals |accessdate=23 April 2020}}
In December 2019, the Wall Street Journal reported SoftBank sold its entire $300 million stake in Wag Labs back to the company at an investment loss.{{cite news |last=Lombardo |first=Cara |url=https://www.wsj.com/articles/softbank-is-selling-wag-stake-back-to-company-sources-11575916341 |title=SoftBank Is Selling Wag Stake Back to Company |work=The Wall Street Journal |date=2019-12-09 |accessdate=2019-12-10 }}
Wag! announced its bid to go public through a special-purpose acquisition company (SPAC) deal with CHW Acquisition Corp in February 2022 at a $350 million valuation.{{cite news | url=https://www.bloomberg.com/news/articles/2022-02-03/dog-walking-app-wag-is-said-to-go-public-through-chw-spac-deal | title=Dog Walking App Wag! To Go Public in SPAC Deal with CHW | newspaper=Bloomberg.com | date=3 February 2022 }}
Criticisms and incidents
In June 2017, a Wag! contractor was videotaped allegedly "making himself at home" in a user's apartment, including resting on a sofa and taking beers.{{cite web|title=Man Hired Through Dog-Walking App Gets Comfy In Client's Apartment|url=http://newyork.cbslocal.com/2017/06/02/dog-walker-gets-comfy-in-apartment/|publisher=CBS New York|ref=2017-06-02|language=en|date=June 2, 2017}} In November 2017, a Wag! contractor was videotaped allegedly stealing packages from a New York City apartment building.{{cite web|title=Dog walker steals man's packages from Queens apartment|url=http://pix11.com/2017/12/13/dog-walker-steals-mans-packages-from-queens-apartment/|website=WPIX 11 New York|accessdate=March 22, 2018|date=December 14, 2017}} The New York Daily News reported on a dog lost by Wag! in September 2017,{{cite web|url=http://www.nydailynews.com/new-york/dog-walk-service-wag-doghouse-losing-pet-article-1.3512442|title=Dog-walking service Wag! in the doghouse after losing another customer's pet|author=Ray|first=Esha|last2=Dillon|first2=Nancy|date=September 22, 2017|work=New York Daily News}} and later finding the pet weeks later.{{cite web|url=http://www.nydailynews.com/new-york/dog-reunites-family-wag-pet-sitter-loses-pup-article-1.3563217|title=Long Island dog Buddy reunites with family after Wag! pet-sitter loses pup|last1=Ray|first1=Esha|last2=McShane|first2=Larry|date=October 14, 2017|website=New York Daily News}}
In February 2020, a Yorkie named Bella was found dead after a Wag! Service. Wag! responded with a statement that included “safety is a company-wide priority for Wag! and incidents of this nature are very rare. In fact, the average service rating on the Wag! platform is 4.97 (on a 5-point scale), and every 8 seconds a service is booked on Wag! – with 90% of Wag! customers booking a service weekly.”{{cite web |title=Family Wants Answers After Dog's Mysterious Death During Hired Walk |url=https://www.nbcmiami.com/responds/dogs-mysterious-death-after-hired-walk/2194138/ |website=NBC 6 South Florida |publisher=NBC |accessdate=23 April 2020}}
Response to COVID-19
In March 2020, Wag! created a new service type called Wag! Now for miscellaneous pet care needs for pet owners in San Francisco.{{cite web |title=Wag! Introduces Wag! Now To Help San Francisco Pet Parents in Need of Essential Pet Services During Coronavirus Pandemic |url=https://www.benzinga.com/pressreleases/20/03/p15617408/wag-introduces-wag-now-to-help-san-francisco-pet-parents-in-need-of-essential-pet-services-during- |website=Benzinga |publisher=Benzinga |accessdate=23 April 2020 |language=English}} The service was later released to the entire United States and Wag! partnered with GreaterGood.Org to create the #{{Not a typo|stayhomeandfoster}} initiative, connecting independent contractors with dog and cat rescues and shelters to deliver supplies and foster pets to foster homes.{{cite web |last1=Bender |first1=Kelli |title=Olivia Munn Helps Henry Golding Find the Perfect Foster Dog While Social Distancing |url=https://people.com/pets/olivia-munn-helps-henry-golding-find-the-perfect-foster-dog-social-distancing/ |website=PEOPLE.com |publisher=People |accessdate=23 April 2020 |language=EN}} As part of the initiative, Olivia Munn connected Henry Golding "with Wag! and GreaterGood.org. The two groups were able to find Golding the perfect match in Stella, a shelter dog from START Animal Rescue." In February 2020, all Wag! employees shifted to remote work. The company released communications to pet owners and independent contractors on how best to complete walks with social distancing. According to Adweek, "pet care app Wag sent an email to its users encouraging pet owners to limit interaction with dog walkers by communicating through the in-app chat feature and having the dog’s harness and leash on ahead of time, making for a 'simple handoff.' The company also provides small lockboxes to pet owners who request them, making the exchange of household keys a no-contact situation—'essentially, a built-in social distance feature,' said a Wag spokesperson. According to Wag, nearly 70% of its services are completed with a lockbox or hidden key."{{cite web |last1=Hiebert |first1=Paul |title=How Services That Come to Your Door Are Coping With COVID-19 |url=https://www.adweek.com/brand-marketing/how-food-delivery-dog-walking-mail-services-coping-coronavirus/ |website=www.adweek.com |publisher=AdWeek |accessdate=23 April 2020}}
References
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