Posts tagged with "Petplan"

Walmart offers extra provisions for fur babies—including insurance and dog-walking services

November 13, 2020

Walmart is digging deeper into the pet services game, the company announced on November 12. The retail giant is launching Walmart Pet Care, an “omnichannel pet care offering that makes holistic care easy, simple, and affordable for the 90 million pet owners who shop at Walmart,” according to a report by Business Insider.

Pet-related services now include Walmart’s first-ever pet insurance plans via insurance provider Petplan. The company also is collaborating with pet-services company Rover to pair owners with local pet-sitters and dog-walkers.

“We’re on a mission to help families live better — and that goes for pets, too,” Melody Richard, merchandising vice president of Walmart’s pets category, said in a statement sent to Business Insider. “Especially as adoption rates soar as a result of the pandemic and more people become pet owners, this was the perfect time to launch expanded services in Walmart Pet Care for our customers.”

The pet services industry has exploded in recent years, Business Insider says, as consumers continue to spend more and more on their animals.

“Maybe 30 years ago, pets were in someone’s backyard,” Kristen Peck, CEO of animal medication company Zoetis, told the audience at the Business Insider Global Trends Festival in October. “Then they came into the house. And I’d say five-to-10 years ago they ended up on your bed. Why does that matter? The closer they get to you, the more you invest in their healthcare, and the more their health impacts you.”

And this isn’t the first time that Walmart has dipped its paw into the pet services business. The Arkansas-based retailer currently stocks 1,800 pet products, and hosts a number of in-store vet clinics. Last year, the company launched Pet Rx, a service focusing on prescriptions for pets.

Insurance plans now offered in collaboration with Petplan will offer “pet parents” the chance to save on veterinary bills, streamline pet care appointments, and access up to $1,000 worth of free online virtual vet appointments. Additionally, Walmart customers using Rover will receive a $20 store gift card after completing their first and fifth Rover appointments.

“Through Rover, pet parents can quickly and easily book pet sitters and dog walkers from over 300,000 providers in their communities across the country,” a Walmart spokesperson said. “Walmart is working with Rover to provide customers with convenient pet sitters and dog walkers that match each pet, lifestyle, and budget.”

Research contact: @businessinsider

The Dodo, Group Nine’s animal brand, is expanding into pet insurance

October 22, 2020

The Dodo, the animal-centric video brand of Group Nine Media, has built an audience of more than 90 million followers across social media platforms. Now it is getting into pet insurance, The Wall Street Journal reports.

Group Nine—itself, backed by Discoveryhas taken a minority stake in Petplan, a pet insurer headquartered in New York that was acquired by private-equity firm Warburg Pincus last year. Financial terms weren’t disclosed. Group Nine’s chief executive, Ben Lerer, will join Petplan’s board of directors.

The deal includes an equity stake, as well as a brand-licensing and marketing-services arrangement through which Group Nine and The Dodo will be paid to promote Petplan’s offerings.

The pet insurer will be renamed “Fetch by The Dodo” in May 2021.

The acquisition is the latest effort by Group Nine, which was valued at about $1 billion last year, to create new revenue streams at a time when many digital media companies, big and small, are trying to diversify beyond advertising, the Journal notes.

“For digital media, I think we all have the challenge of needing to be good at multiple things at once,” said Lerer. “My belief is that the best way to reinforce multiple business lines is to build great brands, because a great brand can be leveraged in a bunch of different ways.”

In buying into Petplan, Group Nine and The Dodo won’t be starting from scratch, he said. Petplan has more than 250,000 paying subscribers, the companies said. People familiar with the business said that number includes around 50,000 net new members since May 2019.

Research contact: @WSJ