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Posted by Leah Malone, and Emily B. Holland, Simpson Thacher & Bartlett LLP, on Saturday, March 4, 2023 Editor's Note: Leah Malone is a Partner, and Emily B. Holland is Counsel at Thacher & Bartlett LLP. This post is based on a Thacher & Bartlett LLP memorandum by Ms. Malone, Ms. Holland, Stephen Blake , Karen Hsu Kelley , Matt Feehily , and Carolyn Houston.
Startup founders have a million things on their minds: building a product, hiring a team, raising capital , getting that early traction, figuring out how to scale, or frantically throwing water on whatever metaphorical fires are inevitably burning. Compared to those things that are clearly existential in importance — failure on any one can be the end of your company — keeping accurate books can seem a bit mundane, and something that a founder can outsource and call it good.
COVID-19 was hard for many industries, including the pet training, grooming, and boarding industry. Due to travel restrictions, consumers were able to spend more time caring for their pets. This led to a decrease in demand for pet care services. However, while the pandemic disrupted industry growth, it inspired many people to buy pets. Due to this increase in pet ownership, demand for pet care in the years following 2020 has spiked.
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