Hims & Hers Health

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Hims & Hers Health, Inc.
TypePublic
NYSEHIMS
Industry
Founded2017
Founders
  • Andrew Dudum
  • Hilary Coles[1]
  • Jack Abraham
  • Joe Spector[2]
Headquarters,
Area served
Key people
  • Andrew Dudum (CEO)
  • Spencer Lee (CFO)
  • Melissa Baird (COO)
  • [4]
Products
Revenue
  • Increase US$271.9 million (2021)[6]
Website

Hims & Hers Health, Inc. is an American telehealth company that sells prescription and over-the-counter drugs online, as well as personal care products. Founded in 2017, it reached a valuation of $1.6 billion after closing a deal with Oaktree Capital Management to go public.[7]

History[edit]

In 2017, Andrew Dudum founded Hims Inc. with Hilary Coles as part of the Atomic Labs portfolio.[7][1] Hims initially sold erectile dysfunction treatment sildenafil and hair loss treatments such as minoxidil, biotin vitamins and DHT-blocking shampoo.[8][9][10]

In late 2018, Hims launched Hers, a brand targeted to women, selling birth control pills and flibanserin.[7][11]

In January 2019, Hims raised $100 million in a Series C funding round with a pre-money valuation of $1 billion.[12][13] In the same month, Hims was launched in the United Kingdom with a catalogue limited by European regulation.[14]

In April 2020, Hims launched mental health services, including anonymous group therapy.[5]

In October 2020, Hims closed a deal with Oaktree Capital Management to go public through a blank check company, reaching a valuation of $1.6 billion.[7] As part of the deal, the company was renamed Hims & Hers Health Inc.[15] The transaction was completed in January 2021, and the company started trading publicly on the New York Stock Exchange under the HIMS ticker.[3]

Prescription process[edit]

Hims and Hers offers online consultations to get prescriptions. The platform connects clients to doctors who prescribe the drugs based on an online intake form and photographs.

References[edit]

  1. ^ a b Khazan, Olga (6 June 2019). "You Can Buy Prescription Drugs Without Seeing a Doctor". The Atlantic. Retrieved 2 April 2021.
  2. ^ Hims & Hers Health, Inc. (17 February 2021). "Hims & Hers Health, Inc. to Participate in Upcoming Investor Conference". BusinessWire. Retrieved 25 March 2021.
  3. ^ a b Loizos, Connie (21 January 2021). "Hims, the telehealth startup, saw its shares slip in their trading debut — and that's fine with its CEO". TechCrunch. Retrieved 25 March 2021.
  4. ^ Primack, Dan (8 May 2019). "Online medicine site Hims nabs former Lyft marketing executive". Axios. Retrieved 2 April 2021.
  5. ^ a b Shieber, Jonathan (7 April 2021). "Hims launches group therapy services as first foray into broader mental health initiative". TechCrunch. Retrieved 2 April 2021.
  6. ^ "Hims & Hers Health, Inc. Reports Fourth Quarter and Full Year 2021 Financial Results and Provides First Quarter and Full Year 2022 Outlook". BusinessWire. 22 February 2022. Retrieved 17 June 2022.
  7. ^ a b c d Brown, Kristen V.; De Vynck, Gerrit (30 October 2020). "Hims Built a $1.6 Billion Online Empire by Pushing Prescriptions". Bloomberg Bussinessweek. Retrieved 24 March 2021.
  8. ^ Hurly, Adam (5 December 2017). "Now You Can Subscribe to Hair Loss and Erectile Dysfunction Pills". GQ. Retrieved 25 March 2021.
  9. ^ Schneier, Matthew (28 November 2017). "Finally Putting Some Fun in Erectile Dysfunction". The New York Times. Retrieved 25 March 2021.
  10. ^ Budds, Diana (15 November 2017). "This Startup Is Rebranding Penis Pills And Hair Loss Treatments For Millennials". Fast Company. Retrieved 25 March 2021.
  11. ^ Raphael, Rina (31 October 2018). "Hims launches Hers: Men's wellness startup now has a "badass sister"". Fast Company.
  12. ^ Clark, Kate (29 January 2019). "Wellness startup Hims enters the unicorn club with $100M investment". TechCrunch. Retrieved 25 March 2021.
  13. ^ Raphael, Rina (2 April 2019). "This "hair wellness" startup is taking on Rogaine". Fast Company. Retrieved 25 March 2021.
  14. ^ Moshakis, Alex (17 March 2019). "Evolution of man: the rise and rise of the male wellness sector". The Observer. The Guardian. Retrieved 25 March 2021.
  15. ^ Rinker, Brian (1 October 2020). "Telemedicine startup Hims to merge with blank check company Oaktree Acquisition Corp". San Francisco Business Times. Retrieved 25 March 2021.

External links[edit]