We can't lie...this sounds like the paw-fect pair for Mad Paws.
Background: Mad Paws is an Aussie pet-sitting business that launched back in 2014. It's kinda like Airbnb, but for your furry friend. Over the years, it's extended into dog-walking, grooming and training.
What happened: Shortly after its 2021 IPO, it acquired Waggly Club - a doggie subscription service. Now, the company is barking up another tree.
What else: Mad Paws are set to acquire online pet medication and healthcare products biz Pet Chemist for $20 million.
💡Investors' appetite for the pet economy is still raging - and there really ain't no end in sight.
💡 Pet ownership more than tripled during the pandemic. In Oz, the pet industry is worth $13 billion a year. Globally? It's expected to be worth US$275 billion by 2030.
💡This is because people are spending more and more cash on their pooches. We're talkin' pet food, toys, grooming, sitting, training...but pet-care is relatively untapped. So we can see why Mad Paws jumped on this opportunity.
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