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DogVacay inches toward profitability with pet sitting business
Known as an “Airbnb for dogs,” Santa Monica-based DogVacay has spent almost five years building up a robust dog-sitting business.
Betting that owners were looking for better solutions for boarding their pets, DogVacay created a platform that made it easier to find and book affordable care. From overnight stays to dog walking, DogVacay offers a range of services in regions throughout the United States and Canada.
Now with a $70 million revenue run rate, DogVacay tells TechCrunch that they expect to hit profitability in 2017. The site matches owners and sitters and DogVacay takes a cut of each transaction.
CEO Aaron Hirschhorn tells us that he estimates boarding to be a $7 billion market and they hope to capture a growing portion of that. “There’s a tremendous amount of demand,” he said. But they’ve also found over 30,000 vetted hosts who want to make “extra money watching dogs.” ( Cats , chickens and chinchillas are also welcome).
As with many marketplaces, the trick is “balancing supply and demand at the hyperlocal level,” said Hirschhorn. He’s welcoming CTO Michael Root to build a better platform for both pet owners and sitters.
But DogVacay is not the only option on the market. Seattle-based Rover has been gaining significant traction, raising an aditional $40 million this week.
Totaling $90 million, Rover has more funding and in many metrics is a bigger business, including its $100 million revenue run rate . But DogVacay is close behind and makes more money per host, on average.
TC Cribs: DogVacay's Fur-ociously Cute Office HQ Peer-To-Peer Pet Boarding Marketplace DogVacay Launches Daycare Rover announces $40M round for pet sitting and dog walking DogVacay has raised nearly $50 million , dating back to 2012. Investors include Andreessen Horowitz, Benchmark and First Round Capital. The company will not disclose valuation, but Zirra estimates that its between $150 million and $200 million.
Ultimately, pet-owners “want someone who’s going to take care of your animals and love them as much as you do,” said Root.