Wag! Completes Acquisition of Dog Food Advisor
06 January 2023 - 8:01AM
Business Wire
Wag! Group Co. (the "Company” or “Wag!”; Nasdaq: PET), which
strives to be the #1 platform for busy pet parents, offering
on-demand access to 5-star pet care, pet insurance options, and
expert pet advice, today announced the successful completion of its
acquisition of Dog Food Advisor assets from Clicks and Traffic LLC
(“Dog Food Advisor”) for cash consideration of $9 million. The
acquisition was previously announced on January 3, 2023 and will
expand Wag!’s reach into the pet food and treats market of the pet
industry. Dog Food Advisor is one of the most visited and trusted
dog food marketplaces, helping busy pet parents make informed
decisions about dog food through the website
www.dogfoodadvisor.com.
“Today, we officially welcomed the Dog Food Advisor community to
Wag!,” said Garrett Smallwood, CEO and Chairman of Wag!. “Wag!’s
acquisition of Dog Food Advisor is aligned with the top elements of
our strategy to create sustainable shareholder value while
consolidating the pet industry online.”
The company plans to update its 2023 financial outlook,
inclusive of Dog Food Advisor, when it releases financial results
for the fourth quarter of 2022.
For more information on the Dog Food Advisor acquisition, please
see the presentation in the Investor Relations section of our
website found here: Wag!’s Transaction Announcement.
About Wag! – Wag.co
Wag! strives to be the #1 platform for busy pet parents,
offering access to 5-star dog walking, pet sitting, expert pet
advice, wellness plans, and one-on-one training from Wag!’s
community of 400,000 local pet caregivers nationwide, in addition
to pet insurance options from the leading pet insurance companies.
Making pet parents happy is what Wag! does best. With safety and
wellness at the forefront, Wag! has a trusted record of experience
with more than 12 million pet care services completed by pet
caregivers on the Wag! Platform, across 5,300 cities and 50 states,
with pet parents rating 96% of services as 5-star. Wag! also
operates Petted.com, the nation's largest pet insurance comparison
marketplace, Furmacy.com, a local pharmacy which supports busy
veterinary clinics, and the Wag! Pet Caregiver App, which empowers
pet caregivers to care for pets in their neighborhood and earn real
money. For more information, visit wag.co.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Some of the forward-looking statements can be identified
by the use of forward-looking words. Statements that are not
historical in nature, including the words “anticipate,” “expect,”
“suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,”
“projects,” “should,” “could,” “would,” “may,” “will,” “forecast”
and other similar expressions are intended to identify
forward-looking statements. These statements include those related
to the Company’s ability to further develop and advance its pet
service offerings and achieve scale; ability to attract personnel;
market opportunity, anticipated growth, and future financial
performance, including management’s financial outlook for the
future. Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: management’s financial
outlook for the future; market adoption of the Company’s pet
service offerings and solutions; the ability of the Company to
protect its intellectual property; changes in the competitive
industries in which the Company operates; changes in laws and
regulations affecting the Company’s business; the Company’s ability
to implement its business plans, forecasts and other expectations,
and identify and realize additional partnerships and opportunities;
and the risk of downturns in the market and the technology
industry. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
Company’s amended prospectus supplement filed with the SEC on
November 8, 2022 and other documents filed by the Company from time
to time with the Securities and Exchange Commission. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and the Company assumes no obligation and does not intend to update
or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise. The Company does not
give any assurance that it will achieve its expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20230105005980/en/
Media: Wag!: Media@wagwalking.com
Investor Relations: Wag!: IR@wagwalking.com ICR for Wag!:
WagIR@icrinc.com
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