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Havish Gupta

Stealth • 17h

Raised $100 Million, Yet Failed! Taking your pet out for a stroll can be a big task. The founders knew there were many people, like Sinchan, who didn’t have the time to take their dogs for a walk. So, in 2015, Brendan, Joshua, Jonathan, and Jason created an app to connect dog owners with dog walkers whenever they needed one. Wag! quickly gained attention and raised $2.5 million in seed funding. Within just 2 weeks, it hit 100k users, and in 7 months, it reached 1 million users. But things didn’t go as planned. Despite its popularity, Wag! faced multiple operational issues. As the user base grew, it became difficult to hire enough dog walkers. Additionally, dog walkers frequently complained about low pay, which led to inconsistent service quality and drove customers to alternative apps. Despite raising nearly $100 million in funding and reaching 10 million users, Wag! struggled to succeed. In 2022, Wag! went public with a valuation of $350 million. However, as of 2024, the platform has only 467k active users, declining at a rate of about 20% annually and Its valuation has declined to just $10 million. Fun fact: Brendan Rogers later founded 2amVC, a vc firm providing seed funding to Indian startups.

12 replies10 likes

Replies (12)

BHARGAV AMBATI

Stealth • 9h

I was shocked that dog walkers had that kind of demand. Might be US kind of countries has demand but in india this idea might not get that reach.

1 replies1 like

Anonymous 4

Stealth • 12h

Bro what are you saying? it went public for 350M but now its worth just 10M after raising close to 100M? WTF was it allowed to go public then? People jsut wanted to cash out kya? Damn i hope this 2AM VC guys never invests in my thing. Seems like a long term grifter to me

1 replies1 like

Anonymous 3

Stealth • 14h

Well of course chasing a high valuation without solving core issues just leads to a crash

1 replies1 like

Anonymous 2

Stealth • 15h

Damn this sucks, what kind of business could sustain itself with growing economic needs of people when the payment incentive cant increase much? I think the same thing is gonna happen to all the QC drivers when their salaries get slashed for profitability and prices of everyday materials keep increasing

0 replies1 like

Anonymous 1

Stealth • 17h

😍💯

1 replies

VisionaryHub

Stealth • 17h

Could this type of thing works in india?

1 replies1 like

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