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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.”
It seems we go through a bank crisis every 12 to 15 years… but this one, as opposed to those in the past, was accelerated by instant digital commentary and communications.
Joele Frank is handling the bankruptcy filing for SVB Financial, a restructuring designed to preserve the value of its venture capital platform and regulated broker-dealer units.
The aftermath of Silicon Valley Bank's downfall suggests that mismanaged public relations (or the absence thereof) played a significant role in it.
Gladstone Place Partners is working for San Diego-based biotech Illumina Inc as it engages in a proxy fight with activist investor Carl Icahn, who has nominated three directors to its board of directors.
PR professionals need to make sure that the management teams of such institutions as Silicon Valley Bank and Signature Bank understand the reputational and business impact that governance decisions can have.
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