Wag!
Wag develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. The platform allows pet parents, who require specific pet care services, to make service requests in the platform, which are then fulfilled by pet caregivers. Wag supports dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training and access to other services in 5,200 U.S. cities across all 50 states. From inception in 2015 to October 2021, there have been 11 million services completed by approximately 400,000 pet caregivers. Wag exists to make pet ownership possible and bring joy to pets and those who love them.
Nasdaq: CHWA
IR Website: https://wag.co/investors
Headquarters: San Francisco, CA
Content provided by Wag on 3-9-22.
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Summary
Wag develops and supports a proprietary marketplace technology platform available as a website and mobile app that enables independent pet caregivers to connect with pet parents. The platform allows pet parents, who require specific pet care services, to make service requests in the platform, which are then fulfilled by pet caregivers. Wag supports dog walking, pet sitting and boarding, advice from licensed pet experts, home visits, training and access to other services in 5,200 U.S. cities across all 50 states. From inception in 2015 to October 2021, there have been 11 million services completed by approximately 400,000 pet caregivers. Wag exists to make pet ownership possible and bring joy to pets and those who love them.
Our company was founded in 2015 and born from a love of dogs and an entrepreneurial spirit with the aim to make pet parenthood just a little bit easier so dogs and their humans can share a fulfilling life full of joyful moments. We developed on-demand dog walking by connecting an already passionate community of local pet lovers and caregivers with pet parents. We built a platform where pet parents could find pet caregivers who wanted to earn extra income. We believe that these connections not only enable better care for pets, but also create joy for both parties, and we sought to radically simplify the logistics of pet care. We built a simple and easy-to-use platform to enable pet parents to discover, book, pay and review pet caregivers online or in our app.
For pet caregivers, we built tools to easily create a listing in the Wag platform, along with simple tools for promoting their profile online, scheduling and booking care, communicating with pet parents, and receiving payment. To assist both pet parents and pet caregivers, we invested in a customer service team available 24/7 to support them along the way. To be a brand dedicated to trust and safety, we thoroughly vet and screen all pet caregivers, and provide up to $1 million property damage protection, subject to certain terms and conditions.
Based on an internal survey conducted in 2018-2019, 90% of our customers told us that they never used a dog walker before Wag; after joining the Wag platform, our customers used Wag services 4 to 5 times per month. With more than 350,000 caregivers, our network of caregivers enables us to facilitate connections between pet, parent, and caregiver to best meet the unique needs and preferences of all members of the community. Our results speak for themselves—pet parents love Wag. From inception through October 2021, pet parents have written millions of reviews on the Wag platform, and the average rating is 4.98 out of 5 stars. Based on user data from 2017 to 2021, Wag estimates the long-term Rebooking Rate at 90%.
According to the APPA, U.S. retail sales of pet products and services reached $103.6 billion in 2020, up $6.5 billion from 2019, due largely to a COVID-19 driven spike in the pet population. For 2021, the APPA estimated that $109.6 billion will be spent on our pets. The APPA estimates that the total addressable market for pet wellness is $32.3 billion and $10 billion for pet services. Furthermore, in an industry survey conducted by PwC in November and December 2020, 75% of U.S. executives anticipated that at least half of the office workforce will return to office full-time by mid-2022. We believe the demand for high-quality, personalized pet care far exceeds the existing market due to the increases in pet adoption and implementation of return to office policies.
We are committed to improving the quality of life for all pets. To give back to our communities, we donate a portion of the proceeds from each walk to local shelters. As of June 2021, we have donated 11 million meals to pets in need through our partnership with the Greater Good Charities Rescue Bank Program. We have also partnered with the Humane Society of the United States to give back to the community.
We derive revenue from four distinct streams: (1) service fees charged to pet caregivers, (2) subscription and other fees paid by participating pet parents, (3) joining fees paid by pet caregivers to join and be listed on our platform, and (4) wellness revenue through affiliate fees. We derive revenue principally from service fees, which are based on a percentage of the booking value and vary based on factors specific to the booking, such as type of service, duration, geography, and the price charged by the pet caregiver.
When we look to the future, we believe that there are a number of opportunities to expand our pet services platform. By accelerating growth in existing markets, expanding subscription services, and expanding our platform, we believe we can continue to grow and progress towards being the premier pet wellness platform.
Investor Presentation
Recent News
Wag Labs, Inc. Announces Participation in the 34th Annual Roth Conference
Mar 11, 2022
Wag! Announces Record Fourth Quarter and Full Year 2021 Results, Beats Initial Revenue and EBITDA Guidance
Mar 10, 2022
Walk with Wag in the Pet-Tech Revolution
Mar 8, 2022
Wag Labs, Inc. to Become Listed through $350 million Business Combination with CHW Acquisition Corporation
Feb 3, 2022
Wag! Adds Wellness Options for Pet Parents Improving One-Stop-Shop Capabilities for Premium Pet Care
Dec 20, 2021
GREATER GOOD CHARITIES IN PARTNERSHIP WITH WAG! DELIVER MORE THAN 4.9 MILLION MEALS TO ANIMAL SHELTERS ACROSS THE COUNTRY
Dec 2, 2021
Wag! partners with UNIQLO to Gift to Essential Workers for Giving Tuesday
Nov 30, 2021
Management Overview
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Garrett Smallwood
Chief Executive Officer
Garrett Smallwood, Wag!'s CEO, is a three-time entrepreneur with previous experience at Redbeacon (acquired by The Home Depot), Pillow (acquired by Expedia via Home Away Group) and Finrise (acquired by Wag!). He is an active investor and advisor as well as an Entrepreneur in Residence at NFX, a $400m Seed Stage fund located in San Francisco, CA. Garrett lives in the Bay Area with his daughter, wife and terrier mix, Toby, who loves his long Wag! Walks.
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David Cane
Chief Customer Officer
David joined Wag! as Sr. Director of Customer Support and was later promoted to VP of Customer Experience/Trust & Safety. After 2 years in that role, he was promoted to Chief Customer Officer, leading the organization's comprehensive relationship with its customers and driving efforts to assess and elevate experiences at each touchpoint across the customer journey. Prior to joining the Wag! team, David was the leader of segmented support for Uber - North America operations. In that role he led the global organization to its first and only JD Power certification while launching Uber’s first loyalty program nationwide.
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Dylan Allread
Chief Operating Officer
As COO, Dylan Allread leads Wag!’s Customer Success, Trust & Safety, Communications and People teams.
Allread has extensive experience building and leading highly productive, efficient and innovative organizations. Before joining Wag! in 2018, Allread was the Head of People Operations at DoorDash where he led the development and scale of the DoorDash HR team and foundational processes. During his tenure, DoorDash employee headcount grew by 500%.
Prior to DoorDash, Allread served as a global Compensation & Benefits leader at OpenTable, Equity Residential and Hyatt Hotels Corporation. He also provided executive compensation consulting for Compensation Strategies, Inc.
Allread currently sits on advisory boards for Sequoia Consulting, PeopleTech Partners and TravelBank. He holds a Bachelor of Arts in Economics, with a minor in Mathematics, from DePauw University.
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Patrick McCarthy
Chief Marketing Officer
As Chief Marketing Officer, Patrick McCarthy leads Wag!’s marketing teams including growth and retention of the Pet Parent and Pet Caregiver communities.
McCarthy has extensive experience building marketing programs and teams at high growth consumer brands. Before joining Wag! in 2018, McCarthy was the Vice President of Marketing at Tripping.com. In this position, he led the development and scale of the Tripping’s marketing team.
Prior to Tripping, McCarthy served as a Growth and Marketing Leader at Joist, Storefront, Maker Media, Redbeacon, The Search Agency and he started his career on the marketing team at StubHub. He holds a Bachelor of Arts in History from the University of California at Santa Cruz, where he was a member of the Varsity Basketball team.
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Nicholas Yu
Director of Legal
Nick is the Director of Legal at Wag! and a member of our senior management team. He is responsible for overseeing all legal matters at Wag!, including corporate transactions, litigation, corporate governance, and regulatory issues. Nick supervises our internal legal team as well as outside counsel.
Nick has extensive experience in the technology and consumer sectors. He is a seasoned lawyer, with experience providing clients with actionable legal and practical business advice. Prior to joining Wag!, Nick was an intellectual property litigator at Latham & Watkins LLP in Silicon Valley, where he worked with a diverse range of clients on matters ranging from high profile, bet-the-company lawsuits to common contracting issues. Nick graduated from University of Hastings College of the Law School magna cum laude and earned his undergraduate degree at the University of California, Berkeley.
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Alec Davidian
Chief Financial Officer
As CFO, Alec leads Wag!'s finance organization, including accounting, reporting, FP&A, and treasury functions. Prior to being appointed CFO, Alec was Wag!'s VP of Finance, responsible for Wag!'s financial operations and prior to that he was Wag!'s Corporate Controller, responsible for building the controllership function in Mountain View.
Alec has over 15 years experience in accounting and finance, working with numerous early stage startups and Fortune 500 companies. Prior to Wag!, Alec was a Senior Manager at Ernst & Young, assisting companies on accounting matters, filings, process improvements and scaling businesses. He also served as a lead presenter at Ernst & Young national conferences on matters relating to private companies and revenue recognition.
Alec earned a bachelor’s degree from Newcastle University, is a Certified Public Accountant in California, certified Fellow member of ACCA, and member of the AICPA. Alec lives in the Bay Area with his wife, son and two dogs.
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Mazi Arjomand
Chief Technology Officer
As the CTO at Wag!, Mazi leads the development and technology teams. Prior to joining Wag!, he was a co-founder and CTO of Vetary and Finrise and served as an engineering lead at a variety of successful technology startups. Mazi attended both undergraduate and graduate programs at Santa Clara University in Computer Engineering and Science. When he's not hanging out with pups in the office, Mazi can be found outdoors skiing, climbing, or backpacking.
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Adam Storm
Presidnt & Chief Product Officer
As President and CPO at Wag!, Adam leads analytics, strategy, and oversees our Pet Caregiver and Pet Parent apps. Prior to his time at Wag!, Adam led strategy and product for a number of consumer start-ups and was a software engineer at Microsoft. Adam is an active angel-investor and advisor to growth-stage startups. In his free time Adam is an avid rock-climber, competitive gamer, and film-buff. Adam has 3 dogs: Lola, Molly, and Pepper.
Risks & Disclosures
This communication is neither an offer to sell nor a solicitation of an offer to buy, nor a recommendation of any securities of the company mentioned herein.
Wag! (the “Company”) and its counsel have reviewed the content of this page as well as the accompanying presentation (“Company Presentation”) displayed on this page. To the best of its knowledge, the Company does not believe this content to be misleading or inaccurate in any material respect, nor does it believe there are any material omissions with respect to such content. The Company does not believe the contents of the page or the Company Presentation to contain any non-public material information.
Information and opinions presented in the Company Presentation are provided by the Company, and b2i digital makes no representation as to their accuracy or completeness. The information contained on this page is not intended to constitute any form of advice, and the information provided is not intended to provide a sufficient basis on which to make an investment decision. It is not investment research, nor does it constitute a research recommendation, as it does not constitute substantive research or analysis. This information is not to be relied upon in substitution for the exercise of independent judgment.
Information, opinions and estimates contained on this page or in the Company Presentation reflect judgments by the Company as of the original date of publication by the Company and are subject to change without notice. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied is made regarding future performance.
A complete description of the risks and uncertainties relating to the Company and its securities can be found in the company's filings with the U.S. Securities and Exchange Commission available for free at www.sec.gov.
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B2I DIGITAL, Inc. is a marketing sponsor of the Roth 34th Annual Roth Conference. B2I DIGITAL, Inc. is not an affiliate of Roth Capital Partners, LLC (“Roth”) and is not authorized to represent or act on behalf of Roth ,in any capacity. Roth has not reviewed and approved the content contained on the b2idigital.com website.
