Everyone poops—but not everyone eats it...

Trying to face a rival backed by SoftBank, a pet care startup just raised $155 million

$155 million

Pet care firm Rover raised $155 million in cash and credit, it said Thursday (June 7), six months after SoftBank injected $300 million on rival Wag. Both startups offer popular dog-walking and pet-sitting services in the US.

Published   |  Photo by AP Photo/Rebecca Blackwell
Everyone poops—but not everyone eats it...
$155 million

Rover plans to use the money to bring its service to other countries. This latest round puts its total funding at $311 million, closer to Wag’s $362 million.

Everyone poops—but not everyone eats it...
$155 million

While money is flooding the booming pet-care sector, the Rover-Wag dynamic exemplifies the imbalances produced by SoftBank’s giant technology fund and its voracious VC strategy.

Everyone poops—but not everyone eats it...
$155 million

Critics say SoftBank invests “too much money, too fast,” generating huge growth in firms that might not have been ready for that, and giving SoftBank an oversized say among founders and previous investors.

Everyone poops—but not everyone eats it...
$155 million

Last year, SoftBank put over $500 million in Improbable. The investment was ten times what the British VR company had received in five years, and five times its valuation.

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