Bark & Co fetches $60M investment at $258M valuation
May 20, 2016
Bark & Co is the parent company to a handful of dog-related websites. Launched in 2012 and initially only offering a monthly subscription service for dog toys and treats, the company has since expanded to include an online store for dog products, a dog events platform and a dog-centric entertainment website. With this new funding, Bark & Co has now raised $76.7 million in total, which includes a $10 million round that generated a valuation of $115 million in July 2014.
Much like the on-demand vertical today, the subscription service space was one of the hottest for tech startups just a couple years ago. Spurred by early success from companies like Birchbox, which delivers beauty products to subscribers on a monthly basis, startups copying the model in different industries began to pop up at a rapid pace.
What has become apparent is that, in many cases, monthly deliveries aren’t enough to support an entire business. This is exemplified by companies like Bark & Co and Birchbox, which have both expanded their offerings beyond subscription services alone. Moving forward, it will be interesting to see how these copycat startups fare, especially with the much-talked-about fundraising freeze that has permeated the industry. For many, it may come down to 'diversify or die.'