ICR Inc is guiding Wag!, dog-walking app, as it plans to go public via a $350M SPAC deal with CHW Acquisition Corp.
Founded in 2015 to relieve the guilt and stress of leaving a pet unattended, Wag! has more than 350K pet caregivers in 4,600 cities in the US, handling dog walking, pet sitting, training, advice and drop-in visits.
It has generated 11M reviews with 96 percent of them earning five-star ratings. Rebooking rate clocks in at 90 percent. The pet wellness/services market was valued at $44B in 2020.
Wag! CEO Garrett Smallwood said his company is “transforming the fragmented and largely offline pet wellness and services industry through our vertically integrated mobile-first technology platform.”
The company anticipates revenues of $42M for 2022, which would be a 120 percent boost over last year’s performance.
Shares of Wag! Group Co. are expected to to trade on the NASDAQ under the ticker symbol, “PET.”