Former New York Yankees DH Alex Rodriguez and fiancee Jennifer Lopez dropped out in an attempt to buy the New York Mets. But they are about to make a home run with an initial public offering. Per Sportico:
A-Rod’s post-baseball business empire is achieving its first stock market victory, with the self-care and self-care unicorn Hims & Hers about to go public through a special-purpose acquisition company.
Introducing Yankees Insider: Receive exclusive news, behind-the-scenes observations and the ability to send text messages directly to traditional copywriters
According to Sportico, Rodriguez and Lopez invested in Hims & Hers in 2019.
Hims & Hers is a direct consumer company that started as a prescription for Viagra by mail, but has evolved its main focus towards telemedicine, along with offers to support mental health and the sale of personal care products focused on hair, skin and sexual health. The company reported that it had about 260,000 subscribers to medical prescriptions in June and conducted more than two million telehealth consultations.
Sportico reports that the participation of Rodriguez and Lopez “can be worth up to $ 79 million, based on the fact that they own less than 5% of the company’s equity”.
“As an investment, Hims & Hers has been a great model of what the best type of partnership is for us: a company with great fundamentals, but also where our support and support can add significant value to improve the trajectory,” said Rodriguez in an email.
Rodriguez and Lopez hoped to add Mets to their empire. But they were defeated by billionaire hedge fund manager Steve Cohen, who closed his $ 2.4 billion deal to buy the club in November.
Receive text messages from the Yankees: Eliminate social media and text clutter while playing games with traditional writers and columnists. In addition, exclusive news and analysis every day. Subscribe now.
Thank you for trusting us to provide the journalism you can trust. Please consider supporting NJ.com with a signature.
Mike Rosenstein can be reached at [email protected]. Tell us your coronavirus story or send a tip on here.