According to sources familiar with the situation, Softbank may be soon investing up to $300 million into Wag, a dog walking app.
Wag is a dog walking app that allows owners of dogs to pair up with walkers that are available in their neighborhoods. The app was founded in 2014.
The sources, who spoke to Recode, said that Softbank has been in discussions to invest as much as $300 million into the company.
Wag was intending to raise $100 million in its latest round of fundraising but since Softbank took an interest, the number grew to $300 million.
According to one source, Wag has already received an investment offer from a top venture capital firm prior to Softbank taking an interest.
There has been no deal closed yet with Softbank, and the total investment is subject to change. The deal could even fall through.