Investments · Pet services app
SoftBank Vision Fund invests $300 million in dog-walking app Wag
- Investor
- SoftBank Group (via SoftBank Vision Fund) (Tokyo)
- In
- Wag Labs, San Francisco, California
- Value
- $300M
- Status
- Completed in 2018. SoftBank sold the stake back to Wag in December 2019.
- Date
- 2018-01-30
SoftBank Group's Vision Fund invested $300 million in Wag Labs, a San Francisco company whose app connects dog owners with dog walkers. SoftBank sold the stake back to Wag in December 2019.
Why it matters
The investment was an early example of the Vision Fund backing US on-demand service apps, and its reversal within two years showed the risks of that approach.
Sources
Kakehashi M&A News home
