The only thing more gratifying than a dog is selling stuff to its owner. Forty-two per cent of Australian households have a canine companion and the pet industry is worth $13 billion a year, yet Australia’s biggest online dog services platform, ASX-listed Mad Paws, is worth just $32 million.

Earlier this month it threw investors a bone with a $3 million acquisition of doggie treat subscription service Waggly Club. It sent the shares running in the right direction for the first time since its IPO in March.