Wag! was founded in 2015 in Los Angeles, California. In early 2018, Wag! raised $300 million in venture capital funds from Softbank. The company had previously raised $68 million in venture capital.Celebrity users include Mariah Carey, Kendall Jenner, and Chloë Grace Moretz. Actress Olivia Munn serves as an investor and creative strategist.In December 2019, the Wall Street Journal reported SoftBank sold its entire $300 million stake in Wag Labs back to the company at an investment loss.Wag! announced its bid to go public through a special-purpose acquisition company deal with CHW Acquisition Corp in February 2022 at a $350 million valuation.
