Since the shark tank, Everlywell has become a billion dollar business!

The illness is already under pressure, but the results of the laboratory may be more interfered. Everlywell solves this problem by providing a health test at home. The founder Julia Cheek appeared on the shark tank and reached an agreement with Lori Greiner. Now, it is one of the most successful shark tank companies. According to current data, Elleywell is worth $ 1.8 billion.

Julia Cheek background

Julia Cheek from Austin, Texas, studied at the Harvard School of Business at Vanderbilt University. In her early days, she was a world champion of riding and retired in 2009.

Her career began in the management consultant of Deloitte American. She then became an executive of George W. Bush College. The locals in Texas were later hired as chief financial officer of Moneygram. After a few years as the position, she became the company's youngest vice president.

Established Elleywell

One day, Julia found that she had hormone imbalances and needed some laboratory tests. However, she spent a lot of time and money waiting for her to fully understand. This inspired her to change the processing results of the processing experiment.

Julia (Julia) created an online platform that can order test kits with different conditions in them. Customers can then send samples to partner laboratory and wait for results at Everlywell.com.

When the company was established in 2015, it only had 13 available tests. Nevertheless, the female businessman earns $ 2.5 million in less than a year. The operating rate is $ 400,000 per month, and the sales are 20 % per month.

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The appearance of the shark tank

The startup is rapidly expanding, and Julia needs to quickly raise funds to compete with greater players in the market. She appeared in the ninth season of the shark tank, seeking $ 1 million for 5 %.

The shark is impressed by the number of income, but knowing that the competitiveness in the field of medical care is very fierce. Similarly, Elleywell needs to raise more capital in the future, which may dilute their equity.

Lori Greiner is the only shark to participate in gambling. She provided $ 1 million in credit quota, 8 % of the interest and 5 % equity and Julia accepted! Julia urgently needed a credit and was very excited to join Lori.

After the shark tank

After the shark tank, the home health test company expands rapidly. Two years after the transaction with Lori, EVERLYWELL's lifelong sales were $ 65 million! Their products can be found among retailers such as Walgreens, Kroger, CVS and Target.

According to CB Insights, Everlywell successfully raised US $ 2555.5 million from 18 investors, and the latest financing round will be in January 2021 in January 2021. A financing in December 2020, the company's funds were $ 1.3 billion!

Some of the capital raised have been used to acquire other companies. In March 2021, they acquired Pwnhealth and Home Access Health Corp. Julia merged the two companies into a parent company called Everly Health. After the transaction, Everlywell is worth $ 2.9 billion! “Forbes” estimates that Everly Health's valuation is 1.8 billion US dollars, reflecting market adjustment and company performance.

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Everly Health opened a check book for the third time when he bought a female health startup in 2021. According to Bloomberg, the company has more than 600 employees, with annual sales of more than $ 200 million in 2020.

As of 2024, Everly Health's lifelong sales were $ 1.2 billion. Given that the company has achieved great success, they may make public public in the next two to three years.

Categories: Shark Tank
Source: svlsf.edu.vn

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