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Birth control delivery startup Nurx taps Clover Health’s Varsha Rao as CEO

Posted by on Apr 17, 2019 in Airbnb, Alphabet, board member, Chelsea Clinton, chief executive officer, Chief Operating Officer, Clover Health, Companies, Health, healthcare, Kleiner Perkins, Lowercase Capital, Medicare, Nurx, sharing economy, Startups, telemedicine, Union Square Ventures, United States, vacation rental, Venture Capital, websites, Y Combinator | 0 comments

Varsha Rao, Airbnb’s former head of global operations and, most recently, the chief operating officer at Clover Health, has joined Nurx as its chief executive officer.

Rao replaces Hans Gangeskar, Nurx’s co-founder and CEO since 2014, who will stay on as a board member.

Nurx, which sells birth control, PrEP, the once-daily pill that reduces the risk of getting HIV, and an HPV testing kit direct to consumer, has grown 250 percent in the last year, doubled its employee headcount and attracted 200,000 customers. Rao tells TechCrunch the startup realized they needed talent in the C-suite that had experienced this kind of growth.

“The company has made some really great progress in bringing on strong leaders and that’s one of the things that got me excited about joining,” Rao told TechCrunch. Nurx recently hired Jonathan Czaja, Stitch Fix’s former vice president of operations, as COO, and Dave Fong, who previously oversaw corporate pharmacy services at Safeway, as vice president of pharmacy.

Rao, for her part, joined Clover Health, a Medicare Advantage startup backed by Alphabet, in late 2017 after three years at Airbnb.

“After being at Airbnb, a really mission-driven company, I couldn’t go back to something that wasn’t equally or more so and healthcare really inspired me,” Rao said. “In terms of accessibility, I feel like [Nurx] is super important. We are really fortunate to live in a place where can access birth control and it can be more easily found but there are lots of parts of the country where physical access is challenging and costs can be a factor. To be able to break down barriers of access both physically and from an economic standpoint is hugely meaningful to me.”

Nurx, a graduate of Y Combinator, has raised about $42 million in venture capital funding from Kleiner Perkins, Union Square Ventures, Lowercase Capital and others. It launched in 2015 to facilitate women’s access to birth control across the U.S. with a HIPAA-compliant web platform and mobile application that delivers contraceptives directly to customers’ doorsteps.

Today, the telehealth startup is available to customers in 24 states and counts Chelsea Clinton as a board member.


Source: The Tech Crunch

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Spotify says it paid $340M to buy Gimlet and Anchor

Posted by on Feb 15, 2019 in Accel, anchor, BetaWorks, ceo, CrunchBase, daniel ek, Lowercase Capital, Media, microsoft windows, operating systems, podcast, podcast networks, Software, Spotify, stripes group, U.S. Securities and Exchange Commission, WPP, xbox | 0 comments

Spotify doubled down on podcasts last week with a double deal to buy podcast networks Gimlet and Anchor. Those acquisitions were initially undisclosed, but Spotify has quietly confirmed that it spent €300 million, just shy of $340 million, to capture the companies.

That’s according to an SEC filing — hat tip Recode’s Peter Kafka — which reveals that the transactions which were “primarily in cash,” Spotify said. Kafka previously reported that Spotify paid around $200 million for Gimlet, which, if correct, would mean Anchor fetched the remaining $140 million.

Those numbers represent an impressive return for the investors involved, particularly those who backed the companies at seed stage.

Gimlet raised $28.5 million from investors that included Stripes Group, WPP, Betaworks and Lowercase Capital, according to Crunchbase.

Anchor, meanwhile, raised $14.4 million. Crunchbase data shows its backers included Accel, GV, Homebrew and (again) Betaworks.

Those deals represent a good chunk of change, but Spotify still has more fuel in the tanks.

As we reported last week, it plans to spend a total of up to $500 million this year “on multiple acquisitions” as it seeks to further its position on podcasting which, to date, has been an after-thought to its focus on music. Less these deals, Spotify has around $160 million left in its spending budget for 2019.

In a blog post announcing the deals published last week, Spotify CEO Daniel Ek admitted that he didn’t originally release that “audio — not just music — would be the future of Spotify” when he founded the business in 2006.

“This opportunity starts with the next phase of growth in audio — podcasting. There are endless ways to tell stories that serve to entertain, to educate, to challenge, to inspire, or to bring us together and break down cultural barriers. The format is really evolving and while podcasting is still a relatively small business today, I see incredible growth potential for the space and for Spotify in particular,” Ek explained.


Source: The Tech Crunch

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