The dog walking startup Wag has been exploring a sale to potential buyers.
Wag received a whopping $300 million investment from Softbank in 2018. This cash was supposed to fund quick growth and international expansion. Instead, sales fell 12%, while competitor Rover saw 24% growth year over year.
Wag’s founders, Josh and Jonathan Viner, left the company shortly the Softbank investment. More recently, the company has experienced multiple rounds of layoffs.
Assuming a valuation of more than $300 million, potential acquirers would include PetSmart, PetCo, Mars Petcare, and competitor Rover.