EXCLUSIVE: Wag! To Launch Community Shares Program With Help Of Robinhood And DonateStock
Wag Labs, Inc., a pet services marketplace company powering a mobile-first technology platform that enables on-demand and scheduled dog walking, training, and other pet care services, announced today the launch of its Wag! Community Shares Program.
With the Program, Wag! is pioneering a new method of charitable giving for the community of pet caregivers and for domestic pet nonprofit organizations.
At the close of its previously announced SPAC deal with CHW Acquisition Corporation (NASDAQ:CHWA), Wag! will reserve up to 300,000 shares of common stock for the Program, to be arranged through and administered by Robinhood Markets Inc (NASDAQ:HOOD) subsidiary Robinhood Financial LLC, and DonateStock, a fintech philanthropy company.
“As we work towards becoming a publicly-traded company, we are thrilled to launch a first-of-its-kind stock donation program for pet caregivers and nonprofit organizations in the U.S.,” said Garrett Smallwood, CEO of Wag! “The community of pet caregivers has been key for our continued growth and success and we look forward to having the opportunity to offer this unique benefit to them as Wag! stockholders thanks to our work with Robinhood and DonateStock.”
Steve Quirk, Chief Brokerage Officer at Robinhood, said, “We are thrilled to help Wag! distribute stock to pet caregivers, as it aligns closely with our mission to democratize finance for all.”
Wag! notes that throughout the company’s history, it has been dedicated to improving the quality of life for all pets, providing over 16.5 million meals to pets through a partnership with the Greater Good GOODS Program.
As part of Wag! ’s and CHW’s business combination, which is expected to close later this quarter, this new Community Shares Program further builds on the company’s commitment to charitable giving and furthers Wag! ’s support of nonprofit pet organizations that support animals and pets in need.
Wag! will also include the community of pet caregivers on the Wag! Platform in the Community Shares Program.