Nebula Caravel Acquisition Corp (NEBCU)

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About Nebula Caravel Acquisition Corp

Nebula Caravel Acquisition Corp., a blank check company, intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities. The company was founded in 2020 and is based in San Francisco, California. Address: Four Embarcadero Center, San Francisco, CA, United States, 94111

Nebula Caravel Acquisition Corp News and around…

Latest news about Nebula Caravel Acquisition Corp (NEBCU) common stock and company :

Rover to Participate in the Morgan Stanley Spark Conference on October 13, 2021
04 Oct, 2021 Yahoo! Finance

SEATTLE, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Rover Group, Inc. (Nasdaq: ROVR) (“Rover”), the world’s largest online marketplace for pet care, today announced that management will host a fireside chat at the Morgan Stanley Annual Spark Conference on October 13, 2021 at 4:15 p.m. ET (1:15 p.m. PT) in Los Angeles, CA. The fireside chat will be available via webcast and archived replay on Rover’s investor relations website at https://investors.rover.com/. About Rover Group, Inc.Founded in 2011 and bas

Rover Unveils the Best Dog-Friendly Companies of 2021
28 Sep, 2021 Yahoo! Finance

Amazon, athenahealth and Trupanion Lead the Nation in Best Dog-Friendly Companies as Businesses Notice Improved Recruitment, Morale and Culture with Added Pet BenefitsSEATTLE, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Rover.com® (NASDAQ: ROVR), the world’s largest online marketplace for loving pet care, today released its Best Dog-Friendly Companies 2021 report, which ranks the top workplaces across the U.S. on their dog-friendly cultures. In a year that presented workplace environment challenges like

Rover to Participate in the Jefferies Virtual Pet Care Summit on September 16, 2021
07 Sep, 2021 Yahoo! Finance

SEATTLE, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Rover Group, Inc. (Nasdaq: ROVR) (“Rover”), the world’s largest online marketplace for pet care, today announced that management will host a fireside chat at the Jefferies Virtual Pet Care Summit on September 16, 2021 at 12:20 p.m. ET (9:20 a.m. PT). In addition, management will host virtual one-on-one and small group meetings with institutional investors during the conference. The fireside chat will be available via webcast and archived replay on Rove

Rover to Participate in Upcoming Virtual Investor Conferences
10 Aug, 2021 Yahoo! Finance

SEATTLE, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Rover Group, Inc. (Nasdaq: ROVR) (“Rover”), the world’s largest online marketplace for pet care, today announced that management will present and host one-on-one investor meetings at the following investor conferences: Canaccord Genuity 41st Annual Growth Conference Date: Wednesday, August 11, 2021 Fireside Chat Time: 5:00 p.m. ET (2 p.m. PT) D.A. Davidson 20th Annual Software & Internet Conference Date: Thursday, September 9, 2021 Fireside Chat Time: 2

Rover Reports Second Quarter 2021 Financial Results
09 Aug, 2021 Yahoo! Finance

Rover Q2 Earnings Release Q2 Bookings and GBV Q2 GBV of $134 million, Rover’s highest GBV quarter everQ2 new bookings of ~228,000 at ~$9 average customer acquisition cost Q2 net loss significantly narrowsAchieves Adjusted EBITDA profitability for the first time Company raises full year 2021 guidance SEATTLE, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Rover Group, Inc. (“Rover” or the “Company”) (NASDAQ: ROVR), the world’s largest online marketplace for pet care, today announced financial results for the

Rover shares jump in trading debut after pet-care platform goes public by merging with a SPAC
02 Aug, 2021 Yahoo! Finance

Shares of Rover Group Inc., an online marketplace for pet care, rose 6% Monday in their trading debut after the company went public by merging with a special purpose acquisition corporation, or SPAC, a vehicle that has become popular during the coronavirus pandemic.

Rover CEO on how the pet services company differs from other gig economy platforms
02 Aug, 2021 Yahoo! Finance

Aaron Easterly, Rover cofounder and CEO, joins Yahoo Finance’s Live on the company’s market debut to discuss how the pandemic has impacted business, and how it distinguishes itself from other companies’ part of the gig economy’.

Rover, World’s Largest Network of Pet Sitters and Dog Walkers, Goes Public
02 Aug, 2021 Yahoo! Finance

Rover begins trading on Nasdaq under the ticker “ROVR” after completing its business combination with Nebula Caravel Acquisition Corp.Rover is the leading online marketplace for pet care, with more than 500,000 pet care providers across North America and EuropeRover received approximately $270 million in gross proceeds, net of redemptions SEATTLE, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Rover Group, Inc. (Nasdaq: ROVR) (“Rover”), the world’s largest online marketplace for pet care, today begins tradin

Nebula Caravel Acquisition Corp. Completes Business Combination with Rover
30 Jul, 2021 Yahoo! Finance

A Place for Rover, Inc. ("Rover"), the world's largest network of five-star pet sitters and dog walkers, and Nebula Caravel Acquisition Corp. (NASDAQ: NEBC) ("Caravel"), a special purpose acquisition company sponsored by True Wind Capital Management, L.P. ("True Wind Capital"), announced today that they have closed their previously announced business combination agreement. The business combination was approved by Caravel's stockholders at a meeting held on July 28, 2021.

Nebula Caravel Acquisition Corp. Stockholders Approve Business Combination with Rover
28 Jul, 2021 Yahoo! Finance

Nebula Caravel Acquisition Corp. ("Caravel") (NASDAQ: NEBC) today announced that its stockholders approved all proposals related to the previously announced business combination (the "Business Combination") with A Place for Rover, Inc. ("Rover") at a special meeting of stockholders held today.

Technology Industry Veteran Scott Wagner Joins True Wind as Head of Strategic Capital
15 Jul, 2021 Yahoo! Finance

True Wind Capital ("True Wind"), a San Francisco-based private equity firm focused on investing in leading technology companies, today announced that technology industry veteran Scott Wagner has joined the firm as Head of Strategic Capital. In this new role, Mr. Wagner will be responsible for leading True Wind's SPAC franchise and overseeing its operations. Mr. Wagner has been closely involved with True Wind Capital, having served as an independent board member to prior True Wind SPACs and as an

Nebula Caravel Acquisition Corp. Announces Effectiveness of Registration Statement and Special Meeting Date of July 28, 2021 to Approve the Proposed Business Combination with A Place for Rover, Inc.
12 Jul, 2021 Yahoo! Finance

Nebula Caravel Acquisition Corp (Nasdaq: NEBC) ("Caravel"), a special purpose acquisition company sponsored by True Wind Capital, L.P. ("True Wind Capital"), announced today its registration statement on Form S-4 (File No. 333-253110), relating to the business combination with A Place for Rover, Inc. ("Rover"), the world's largest online marketplace for pet care, has been declared effective by the U.S. Securities and Exchange Commission ("SEC"). Caravel has set a record date of July 8, 2021 (the

Rover June Bookings and GBV Set Company Records
07 Jul, 2021 Yahoo! Finance

Highest Single Month Gross Bookings Value of $57 MillionReached New Bookings of ~99,000June Gross Bookings Value Grew 36% vs. June 2019 SEATTLE, July 07, 2021 (GLOBE NEWSWIRE) -- A Place for Rover, Inc. (“Rover” or the “Company”), the world’s largest online marketplace for pet care, today announced key metrics for the month ended June 30, 2021. “Rover's record-breaking June performance is encouraging during a year of significant growth for our business. New bookings performance is being driven b

Rover’s global growth will depend on where pets are considered family
16 Jun, 2021 Yahoo! Finance

Like a lot of successful startups, Rover—an app for booking pet sitters and dog walkers—has a plan for its international expansion. If people in a country consider pets part of their families, that’s a potential market for Rover, CEO Aaron Easterly said. “It’s where they are with their relationship with pets,” he said.

Rover Reports Record May Results and Increases 2021 Projections
09 Jun, 2021 Yahoo! Finance

Highest Single Month Gross Bookings Value of $45 MillionNew Bookings of ~75,000, Led By Record U.S. Customer AcquisitionMay Gross Bookings Value Grew 18% vs. May 2019 SEATTLE, June 09, 2021 (GLOBE NEWSWIRE) -- A Place for Rover, Inc. (“Rover” or the “Company”), the world’s largest online marketplace for pet care, today announced key metrics for the month ended May 31, 2021. “We are excited to see so many pet parents turning to Rover to find care for their furry family members as they start to re

Rover Reports First Quarter 2021 Financial Results
17 May, 2021 Yahoo! Finance

Rover Reports First Quarter 2021 Financial Results Growth in GBV represents increasing activity on our platform from repeat and new pet parents and may differ slightly from bookings growth depending on the mix of daytime and overnight services for each period. Recent Data Shows Signs of Rapid Acceleration and Post-Pandemic RecoveryStrong Q1 Gross Bookings Value of $65 millionQ1 New Bookings of ~102,000 at $7 Average Customer Acquisition CostMarch Gross Bookings Value increased 67% Year-Over-Year SEATTLE, May 17, 2021 (GLOBE NEWSWIRE) -- A Place for Rover, Inc. (“Rover” or the “Company”), the world’s largest online marketplace for pet care, today announced financial results for the first quarter ended March 31, 2021. “We are pleased with our first quarter results and are very encouraged by recent data and the signs we are seeing in the market,” said Rover co-founder and CEO, Aaron Easterly. “In the first quarter and continuing into May, we have seen an uptick in both Gross Bookings Value (GBV) and bookings as COVID vaccines roll out. We believe Rover is well positioned to capture the resurgence in pet care demand as people resume traveling and return to work.” First Quarter 2021 Financial Highlights:(Unless otherwise noted, all comparisons are relative to the first quarter of 2020): Total revenue of $12.2 million, compared to $17.0 million.Total bookings of ~643,000, compared to ~925,000. During the last week of March 2021, Rover had its highest volume week of new bookings since the week prior to Christmas 2019, and significantly more new bookings than any week in 2020.Customer Acquisition Cost (CAC) of $7, compared to $39 on new bookings of ~102,000, compared to ~109,000.GBV of $64.7 million, compared to $86.8 million.GAAP net income/(loss) of ($10.6) million, compared to ($20.5) million.Adjusted EBITDA of ($4.4) million, compared to ($12.3) million. First Quarter 2021 Business Highlights: For all bookings, California, Florida, New York and Texas are up 45%, 42%, 44% and 69% respectively month-over-month from February to March 2021. Historically, the seasonal trend has been a ~20% increase during the same timeframe. Rover expects the exact rate of recovery to continue to vary by locale.Stay length for overnight services began to return to historical seasonal norms: the average stay length in the first quarter of 2021 and 2019 was ~4 nights.Requests for services are being made further in advance: the median lead time for pet care requests in March 2021 was up ~15% over March 2019.The “pandemic puppy” boom is a real phenomenon: of all new pet profiles added on Rover, the percentage of puppies is up 38% over the first quarter 2019.Existing Rover pet parents added ~30% more puppies to their profiles than they did in the first quarter of 2019.New customer daycare bookings for puppies was up 64% over the first quarter of 2019, a historic high.On February 10, 2021, Rover entered into a definitive business combination agreement with Nebula Caravel Acquisition Corp. (Nasdaq: NEBC) (“Caravel”). Caravel is a publicly traded special purpose acquisition company sponsored by True Wind Capital. The transaction values Rover at an enterprise value of approximately $1.350 billion. “In the first quarter, we improved Adjusted EBITDA 64% year-over-year as we leveraged our organic customer acquisition efforts and streamlined cost structure,” said Rover CFO, Tracy Knox. “Looking ahead, consistent with our operating plan for the year, we plan to drive growth with targeted and increased investments in marketing as we capitalize on the expanded market opportunity and influx of new pet parents. The improvements in our booking trends over the past few weeks, including April, combined with our more efficient cost structure gives us confidence in delivering our full year targets.” A chart accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e0f04d0-ceab-48b0-b947-aa1596fe0da0 About RoverFounded in 2011 and based in Seattle, Rover is the world’s largest online marketplace for pet care. Rover connects pet parents with pet care providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, drop-in visits, and grooming. Millions of pet parents have booked a service on Rover, with more than 500,000 pet care providers across North America and Europe. About True Wind Capital True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Rover will be True Wind’s 8th platform investment. About Nebula Caravel Acquisition Corp. Caravel (Nasdaq: NEBC) is a blank check company sponsored by True Wind and led by Adam H. Clammer and James H. Greene, Jr., who serve as Chief Executive Officer and Chairman, respectively, formed for the purpose of partnering with one high-quality technology business. Caravel follows Nebula Acquisition Corporation’s successful merger with Open Lending in June 2020. Important Information and Where to Find It This press release relates to the proposed merger involving Caravel Rover. Caravel has filed a Registration Statement on Form S-4 with the SEC, which includes a proxy statement and prospectus of Caravel and an information statement of Rover, and each party will file other documents with the SEC regarding the proposed transaction. A definitive proxy statement/prospectus/information statement will also be sent to the stockholders of Caravel and Rover, seeking any required stockholder approvals. Before making any voting or investment decision, investors and securityholders of Caravel and Rover are urged to carefully read the entire registration statement and proxy statement/prospectus/information statement, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by Caravel with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from Caravel upon written request to Nebula Caravel Acquisition Corp., Four Embarcadero Center, Suite 2100, San Francisco, California 94111. Participants in the Solicitation Caravel, Rover and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Caravel, in favor of the approval of the merger. Information regarding Caravel’s directors and executive officers is contained in the section of Caravel’s Registration Statement on Form S-4 titled “Information About Carvel”, which was filed with the SEC on March 29, 2021. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the registration statement and the proxy statement/prospectus/information statement and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph. No Offer or Solicitation This press release does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor will there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, Caravel’s and Rover’s expectations or predictions of future financial or business performance or conditions. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions, and include statements regarding COVID recovery, changes in travel and working behavior and the impact on Rover’s business and operating results as well as the closing of the business combination between Caravel and Rover. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in the section of Caravel’s Registration Statement Form S-4 titled “Risk Factors” which was filed with the SEC on March 29, 2021. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are based on Caravel’s or Rover’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and neither Caravel nor Rover is under any obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which Caravel has filed or will file from time to time with the SEC. In addition to factors previously disclosed in Caravel’s reports filed with the SEC and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: risks and uncertainties related to the inability of the parties to successfully or timely consummate the merger, including the risk that any required regulatory approvals or stockholder approvals of Caravel or Rover are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the merger is not obtained, failure to realize the anticipated benefits of the merger, risks related to Rover’s ability to execute on its business strategy, attract and retain users, develop new offerings, enhance existing offerings, compete effectively, and manage growth and costs, the duration and global impact of COVID-19, the number of redemption requests made by Caravel’s public stockholders, the ability of the combined company to meet Nasdaq’s listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the merger, the inability to complete the private placement of common stock of Caravel to certain institutional accredited investors, the risk that the announcement and consummation of the transactions disrupts Rover’s current plans and operations, costs related to the transactions, the outcome of any legal proceedings that may be instituted against Caravel, Rover, or any of their respective directors or officers, regarding the proposed transaction, the ability of Caravel’s or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments; and those factors discussed in documents of Caravel filed, or to be filed, with SEC. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Caravel’s most recent filings with the SEC which are available, free of charge, at the SEC’s website at www.sec.gov, and in the Registration Statement on Form S-4 and Caravel’s proxy statement/prospectus/information statement when available. This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Caravel and is not intended to form the basis of an investment decision in Caravel. All subsequent written and oral forward-looking statements concerning Caravel and Rover, the proposed transaction or other matters and attributable to Caravel and Rover or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Definitions Adjusted EBITDA is defined as net loss excluding depreciation and amortization, stock-based compensation expense, income tax expense or benefit, interest expense, interest income, other income (expense), net, and non-routine items such as restructuring, impairment, and certain acquisition costs.A booking is defined as a single arrangement, prior to cancellation, between a pet parent and pet care provider, which can be for a single night or multiple nights for our overnight services, or for a single walk/day/drop-in/groom or multiple walks/days/drop-ins for our daytime services. New bookings is defined as the total number of first-time bookings that new users, which Rover refers to as pet parents, book on our platform in a period. Repeat bookings are defined as the total number of bookings from pet parents who have had a previous booking on Rover.CAC for any period is defined as advertising expenses less brand, content and marketing tools divided by in period new bookings.Gross Booking Value, or GBV, represents the dollar value of bookings on our platform in a period and is inclusive of pet care provider earnings, service fees, add-ons, taxes and alterations that occurred during that period.Please refer to Caravel’s registration statement on Form S-4 filed with the SEC on March 29, 2021 for definitions of Adjusted EBITDA, a non-GAAP metric, and GBV, total bookings, new bookings. A Place for Rover, Inc.Key Business Metrics Three Months EndedMarch 31, (unaudited) 2020 2021 Bookings (in thousands): New bookings 109 102 Repeat bookings 816 541 Total bookings 925 643 GBV (in millions) $86.8 $64.7 GAAP Financial Statements A Place for Rover, Inc. Balance Sheet December 31, March 31, (unaudited) 2020 2021 (in thousands) Assets Current assets Cash and cash equivalents $80,848 $81,833 Accounts receivable, net 2,992 6,878 Prepaid expenses and other current assets 3,629 5,973 Total current assets 87,469 94,684 Property and equipment, net 24,923 23,835 Operating lease right-of-use assets — 22,363 Intangible assets, net 7,967 7,064 Goodwill 33,159 33,159 Deferred tax asset, net 1,235 1,228 Other noncurrent assets 134 97 Total assets $154,887 $182,430 Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Deficit Current liabilities Accounts payable $1,301 $1,633 Accrued compensation and related expenses 3,269 4,039 Accrued expenses and other current liabilities 2,747 5,397 Deferred revenue 751 3,378 Pet parent deposits 7,931 14,754 Pet service provider liabilities 6,140 6,435 Debt, current portion 4,128 6,840 Operating lease liabilities, current portion — 2,236 Total current liabilities 26,267 44,712 Deferred rent, net of current portion 2,248 — Debt, net of current portion 33,398 30,781 Operating lease liabilities, net of current portion — 26,802 Other noncurrent liabilities 4,659 723 Total liabilities 66,572 103,018 Commitments and contingencies Redeemable convertible preferred stock 290,427 290,427 Stockholders’ deficit: Common stock, par value — — Additional paid-in capital 53,912 55,579 Accumulated other comprehensive income (loss) 253 274 Accumulated deficit (256,277) (266,868)Total stockholders’ deficit (202,112) (211,015)Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $154,887 $182,430 A Place for Rover, Inc.Statement of Operations Three Months EndedMarch 31, (unaudited) 2020 2021 (in thousands) Revenue $16,991 $12,196 Costs and expenses: Cost of revenue 5,418 4,176 Service operations 5,055 2,233 Marketing 9,350 2,666 Technology 8,811 4,468 General and administrative 6,202 6,636 Depreciation and amortization 2,762 1,850 Total costs and expenses 37,598 22,030 Loss from operations (20,607) (9,833)Other income (expense), net: Interest income 332 4 Interest expense (249) (697)Other expense, net (44) (51)Total other income (expense), net 39 (744)Loss before provision for income taxes (20,568) (10,577)Benefit from (provision for) income taxes 23 (14)Net loss $(20,545) $(10,591)Net loss per share attributable to common stockholders, basic and diluted $(0.72) $(0.36)Weighted-average shares used in computing net loss per share, basic and diluted 28,621 29,482 A Place for Rover, Inc.Statements of Cash Flows Three Months EndedMarch 31, (unaudited) 2020 2021 (in thousands) OPERATING ACTIVITIES Net loss $(20,545) $(10,591)Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 1,585 1,001 Depreciation and amortization 4,644 3,569 Non-cash operating lease costs — 477 Net amortization (accretion) of investment premiums (discounts) (6) — Amortization of debt issuance costs 68 120 Deferred income taxes (58) 12 Loss on disposal of property and equipment 8 17 Changes in operating assets and liabilities: Accounts receivable 196 (3,878)Prepaid expenses and other current assets 206 928 Other noncurrent assets 693 (9)Accounts payable (1,612) 332 Accrued expenses and other current liabilities (1,184) 1,034 Deferred revenue and pet parent deposits (16,862) 9,449 Pet service provider liabilities (2,153) 295 Operating lease liabilities — (530)Other noncurrent liabilities 682 54 Net cash (used in) provided by operating activities (34,338) 2,280 INVESTING ACTIVITIES Purchase of property and equipment (369) (49)Capitalization of internal-use software (2,492) (1,543)Proceeds from disposal of property and equipment — 8 Purchases of available-for-sale securities (4,725) — Proceeds from sales of available-for-sale securities 5,367 — Maturities of available-for-sale securities 10,278 — Net cash provided by (used in) investing activities 8,059 (1,584)FINANCING ACTIVITIES Proceeds from exercise of common stock options 134 666 Payment of deferred transaction costs — (375)Proceeds from borrowing on credit facilities 55,185 — Net cash provided by financing activities 55,319 291 Effect of exchange rate changes on cash and cash equivalents (56) (2)Net increase (decrease) in cash and cash equivalents 28,984 985 Cash and cash equivalents, beginning of period $67,654 $80,848 Cash and cash equivalents, end of period $96,638 $81,833 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash paid for income taxes $3 $— Cash paid for interest — 563 NON-CASH INVESTING AND FINANCING ACTIVITIES Issuance of common stock warrants under credit facility and subordinated credit facility agreements $657 $— Issuance of Series G redeemable convertible preferred stock to settle Barking Dog Ventures, Ltd. Holdback 62 — Deferred transaction costs included in accrued expenses and other current liabilities — 2,887 Reconciliation to Financial Statements A Place for Rover, Inc.Adjusted EBITDA Reconciliation Three Months EndedMarch 31, (unaudited) 2020 2021 (in thousands) Adjusted EBITDA reconciliation: Net loss $(20,545) $(10,591)Add (deduct): Depreciation and amortization(1) 4,644 3,569 Stock-based compensation expense(2) 1,585 1,001 Interest expense 249 697 Interest income (332) (4)Other expense, net 44 51 Income tax benefit (23) 14 Restructuring expense(3) 2,080 — Acquisition-related costs(4) 28 905 Adjusted EBITDA $(12,270) $(4,358) (1) Depreciation and amortization include amortization expense related to capitalized internal use software, which is recognized as cost of revenue in the consolidated statements of operations.(2) Stock-based compensation expense includes equity granted to employees as well as for professional services to non-employees.(3) Restructuring costs include expenses for severance-related and legal costs incurred during the implementation of our restructuring plan.(4) Acquisition-related costs include accounting, legal, consulting and travel related expenses incurred in connection with business combinations. Contacts: MEDIA pr@rover.comKristin Sandberg(360) 510-6365 INVESTORSbrinlea@blueshirtgroup.comBrinlea Johnson(415) 269-2645 True Wind Capitalpress@truewindcapital.comStephanie Portillo

Rover to Participate in the Needham Technology & Media Conference on May 18 and the Stifel Cross Sector Insight Conference on June 10
13 May, 2021 Yahoo! Finance

SEATTLE, May 13, 2021 (GLOBE NEWSWIRE) -- A Place for Rover, Inc. (“Rover” or the “Company”), the world’s largest network of five-star pet sitters and dog walkers, today announced that Co-Founder & CEO Aaron Easterly and CFO Tracy Knox will present and host one-on-one investor meetings at the following investor conferences: 16th Annual Needham Virtual Technology & Media Conference Date: Tuesday, May 18, 2021 Virtual Fireside Chat Time: 8:45 a.m. PT (11:45 a.m. ET)Webcast: https://wsw.com/webcast/needham108/rov.e/2354606 Stifel 2021 Virtual Cross Sector Insight Conference Date: Thursday, June 10, 2021Virtual Fireside Chat Time: 1:00 p.m. PT (4:00 p.m. ET) Webcast: https://wsw.com/webcast/stifel47/rov.e/2190772 On February 11, 2021, Rover entered into a definitive business combination agreement with Nebula Caravel Acquisition Corp. (Nasdaq: NEBC) (“Caravel”). Caravel is a publicly traded special purpose acquisition company sponsored by True Wind Capital. The transaction values Rover at an enterprise value of approximately $1.350 billion. About RoverFounded in 2011 and based in Seattle, Rover® is the world’s largest network of five-star pet sitters and dog walkers. Rover connects dog and cat owners with pet care whenever they need it. Millions of services have been booked on Rover, including pet sitting, dog walking, in-home boarding, drop-in visits, doggy day care, and grooming in select markets. Rover makes it easier for people to have pet love in their lives through the Rover Guarantee, 24/7 support, vet consultations, and GPS walk mapping. And by sharing expertise on TheDogPeople.com, a trusted resource for millions of dog and cat parents worldwide, Rover provides tips and articles that delight, inform, and enhance the bond between people and their pets. To learn more about Rover, please visit http://www.rover.com. About True Wind Capital True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Rover will be True Wind’s 8th platform investment. About Nebula Caravel Acquisition Corp. Nebula Caravel Acquisition Corp (Nasdaq: NEBC) (“Caravel”) is a blank check company sponsored by True Wind and led by Adam H. Clammer and James H. Greene, Jr., who serve as Chief Executive Officer and Chairman, respectively, formed for the purpose of partnering with one high-quality technology business. Caravel follows Nebula Acquisition Corporation’s successful merger with Open Lending in June 2020. Important Information and Where to Find It This press release relates to the proposed merger involving Nebula Caravel Acquisition Corp. (“Caravel”) and A Place for Rover, Inc. (“Rover”). Caravel has filed a preliminary Registration Statement on Form S-4 with the SEC, which includes a proxy statement and prospectus of Caravel and an information statement of Rover, and each party will file other documents with the SEC regarding the proposed transaction. A definitive proxy statement/prospectus/information statement will also be sent to the stockholders of Caravel and Rover, seeking any required stockholder approvals. Before making any voting or investment decision, investors and securityholders of Caravel and Rover are urged to carefully read the entire registration statement and proxy statement/prospectus/information statement, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by Caravel with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from Caravel upon written request to Nebula Caravel Acquisition Corp., Four Embarcadero Center, Suite 2100, San Francisco, California 94111. Participants in the Solicitation Caravel, Rover and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Caravel, in favor of the approval of the merger. Information regarding Caravel’s directors and executive officers is contained in the section of Caravel’s Form S-4 titled “Information About Carvel”, which was filed with the SEC on March 29, 2021. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the registration statement and the proxy statement/prospectus/information statement and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph. No Offer or Solicitation This press release does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor will there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, Caravel’s and Rover’s expectations or predictions of future financial or business performance or conditions. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in the section of Caravel’s Form S-4 titled “Risk Factors” which was filed with the SEC on March 29, 2021. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are based on Caravel’s or Rover’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and neither Caravel nor Rover is under any obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which Caravel has filed or will file from time to time with the SEC. In addition to factors previously disclosed in Caravel’s reports filed with the SEC and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: risks and uncertainties related to the inability of the parties to successfully or timely consummate the merger, including the risk that any required regulatory approvals or stockholder approvals of Caravel or Rover are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the merger is not obtained, failure to realize the anticipated benefits of the merger, risks related to Rover’s ability to execute on its business strategy, attract and retain users, develop new offerings, enhance existing offerings, compete effectively, and manage growth and costs, the duration and global impact of COVID-19, the number of redemption requests made by Caravel’s public stockholders, the ability of the combined company to meet Nasdaq’s listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the merger, the inability to complete the private placement of common stock of Caravel to certain institutional accredited investors, the risk that the announcement and consummation of the transactions disrupts Rover’s current plans and operations, costs related to the transactions, the outcome of any legal proceedings that may be instituted against Caravel, Rover, or any of their respective directors or officers, regarding the proposed transaction, the ability of Caravel’s or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments; and those factors discussed in documents of Caravel filed, or to be filed, with SEC. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Caravel’s most recent reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov, and in the Registration Statement on Form S-4 and Caravel’s proxy statement/prospectus/information statement when available. Any financial projections in this press release are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Caravel’s and Rover’s control. While all projections are necessarily speculative, Caravel and Rover believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this press release should not be regarded as an indication that Caravel and Rover, or their representatives, considered or consider the projections to be a reliable prediction of future events. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Caravel and is not intended to form the basis of an investment decision in Caravel. All subsequent written and oral forward-looking statements concerning Caravel and Rover, the proposed transaction or other matters and attributable to Caravel and Rover or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Contacts For RoverInvestors: brinlea@blueshirtgroup.comBrinlea Johnson(415) 269-2645 Media: pr@rover.comKristin Sandberg(360) 510-6365 For True Wind Capital Stephanie Portillopress@truewindcapital.com

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Rover.com, the world's largest online marketplace for pet care, released key data signaling significant demand for pet services in the first quarter of 2021. The findings highlight the company's growth trajectory, which has been impacted by the return to travel and the phenomenon of "pandemic puppies."

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Rover and Nebula Caravel Acquisition Corp. to Participate in SPACInsider Webinar on March 31, 2021 at 2pm ET
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A Place for Rover, Inc. ("Rover" or the "Company"), the world’s largest network of five-star pet sitters and dog walkers, and Nebula Caravel Acquisition Corp. ("Caravel") (Nasdaq: NEBC), a publicly traded special purpose acquisition company sponsored by True Wind Capital, today announced that the two companies will participate in a webinar hosted by SPACInsider on Wednesday, March 31, 2021 at 2:00 pm ET to discuss Rover and Caravel’s proposed business combination.

Nebula Caravel Acquisition Corp (NEBCU) is a NASDAQ Common Stock listed in

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