The pet services provider is joining forces with CHW Acquisition Corporation at a valuation just over half that at which former backer SoftBank invested in 2018.

Wag Labs, a US-based pet services provider formerly backed by internet and telecommunications group SoftBank, yesterday agreed to a $350m reverse merger with special purpose acquisition company CHW Acquisition Corporation.

Founded in 2015, Wag offers an array of on-demand pet services through an app that include dog walking, in-person and digital training services, petsitting, insurance comparison and expert consultations regarding a pet’s behaviour.

CHW Acquisition Corporation closed a $110m initial public offering on the Nasdaq Capital Market at $110m in…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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