Was Theranos a publicly traded company?
Was Theranos Publicly Traded? No. Theranos was a privately held corporation until it was shut down and liquidated in September of 2018. Is Theranos Still Open? Theranos started shutting down its...
What is the stock price per share for Theranos?
Theranos has raised $1.37 b in total funding. Theranos valuation is $7.3 b, and annual revenue was $100 k in Y 2014 Theranos's latest funding round in December 2017 was reported to be $100 m. In total, Theranos has raised $1.4 b. Theranos's latest valuation is reported to be $7.3 b.
Who invested in Theranos?
Rupert Murdoch invested $25 million in Theranos. The media mogul was an early investor and finally invested $125 million. He sold his stake for one dollar and wrote off the investment as a loss and might have saved millions in taxes. The Walton family invested about $150 million.
What went wrong with Theranos?
The board of Theranos and federal regulators did not oversee operations to an acceptable extent. Furthermore, potential whistleblowers were met with threats of lawsuits. This toxic culture was purely unsustainable. False representation is a serious offense in business, and in the medical industry, it is purely unacceptable.
Is Theranos on the stock market?
Because Theranos never went public, it wasn't under the same government and public scrutiny as other more established companies. That gave investors an opportunity to get in while it was on the rise, but also put the burden on them to vet the blood-testing startup largely independently.
How much was Theranos stock worth?
At the time, Holmes owned a 50% stake in Theranos, a company that was founded in 2003 and was solely private investors who at the time purchased the aforementioned stakes at a company valuation of approximately $9 billion.
Does the company Theranos still exist?
Theranos officially shut down in 2019.
Who funded Theranos?
Having invested $150 million, the Walton family heirs of the Walmart founder have the dubious honor of being the biggest investor in Theranos, The Wall Street Journal reports. The family is one of four investors to put more than $100 million into the company.
What happened to all the money invested in Theranos?
Story: Big name investors among Theranos biggest losers For instance, the Wall Street Journal reported, the Devos family lost an estimated $100 million in their investment while Murdoch lost $125 million and the Walton family lost $150 million.
How much did Walgreen lose with Theranos?
In June, the companies reached a tentative settlement in which Theranos would pay Walgreens less than $30 million, people familiar with the deal told The Wall Street Journal. However, the terms weren't finalized and could change, the WSJ reported.
Did George Shultz grandson work for Theranos?
In the interview with CBS News, Tyler described the damage his role as a Theranos whistleblower caused to his relationship with his grandfather, former Secretary of State and Theranos board member George Shultz.
Are Theranos patents worth anything?
These patents are now the only thing of value left but the patents aren't valuable because of breakthrough science, the patents are valuable because they can be used to force people who do breakthrough science to cough up part of their return.
Did Theranos get into Walgreens?
A Wall Street Journal article published in 2016 detailed how Walgreens invested $50 million in Theranos before eventually abandoning their deal.
Did Don Lucas invest in Theranos?
Lucas. Mr. Lucas, who was chairman of Theranos's board until 2013, was involved with more than 20 investment vehicles that backed Theranos. Those included his son's venture firm, Lucas Venture Group; another vehicle, PEER Venture Partners; and trusts and foundations associated with members of his family.
How much money did George Shultz invest in Theranos?
He was also a prominent and hands-on board member of Theranos, which defrauded more than $700 million from its investors before it collapsed....George ShultzShultz in the 1980s60th United States Secretary of StateIn office July 16, 1982 – January 20, 1989PresidentRonald Reagan36 more rows
What is Theranos medical?
Theranos ( / ˈθɛrənoʊs /) was an American privately held health technology corporation. It was initially touted as a breakthrough technology company, with claims of having devised blood tests that required only very small amounts of blood and could be performed very rapidly using small automated devices the company had developed. However, these claims were later proven to be false. Founded in 2003 by 19-year-old Elizabeth Holmes, Theranos raised more than US$ 700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
When did Theranos cease operations?
On September 4, 2018 , Theranos announced in an email to investors that it would cease operations and release its assets and remaining cash to creditors after all efforts to find a buyer came to nothing. Most of the company's remaining employees had been laid off on the previous Friday, August 31.
Why was Theranos called Edison?
Theranos claimed to have developed devices to automate and miniaturize blood tests using microscopic blood volumes. Theranos dubbed its blood collection vessel the "nanotainer" and its analysis machine the "Edison". Holmes reportedly named the device "Edison" after inventor Thomas Edison, stating, "We tried everything else and it failed, so let's call it the Edison." This was likely because of a well-known Edison quote: "I've not failed. I've just found 10,000 ways that won't work."
What insurances does Theranos work for?
In July 2015, Theranos became the lab-work provider for Pennsylvania insurers AmeriHealth Caritas and Capital BlueCross.
How much did Theranos raise?
Founded in 2003 by 19-year-old Elizabeth Holmes, Theranos raised more than US$ 700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
How many people were laid off from Theranos?
In January 2017, Theranos announced that it had laid off 41 percent of its workforce, or approximately 155 people, and closed the last remaining blood-testing facility after the lab failed a second major U.S. regulatory inspection.
When did Theranos move to Facebook?
The company moved to the former headquarters of Facebook in June 2012. The company had significant news coverage starting in September 2013 after profiles in the San Francisco Business Times and The Wall Street Journal. By 2014, Theranos had raised more than $400 million with an estimated value of $9 billion.
What is Theranos Inc?
What Is Theranos? Theranos Inc., a consumer healthcare technology startup, was once valued at $10 billion, and its leadership claimed it would revolutionize the blood-testing industry.
How much was Theranos worth in 2014?
2014: With over $400 million in funding, Theranos was valued at nearly $9 billion. Holmes effectively became a multi-billionaire thanks to her 50% stake.
What did the FDA report on Theranos?
The FDA then released two reports from its ongoing investigation into Theranos. They were less than favorable and claimed that Theranos had "uncleared medical device (s)," poor records, was mishandling complaints, and had failed to conduct audits and produce supplier qualifications.
When did Theranos shut down?
Theranos started shutting down its clinical labs and wellness centers in late 2016, finally ceasing operations in September of 2018. By June 2016, Elizabeth Holmes' net worth reportedly dropped from $4.5 billion to nothing.
Overview
Theranos was an American privately held corporation that was touted as a breakthrough health technology company. Founded in 2003 by 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. The company claimed that it devised blood tests that required very small amounts of blood and could be performed rapidly, thanks to the small autom…
History
While at Stanford University, Elizabeth Holmes had an idea to develop a wearable patch that could adjust the dosage of drug delivery and notify doctors of variables in patients' blood. She started developing lab-on-a-chip technology for blood tests, with the idea to start a company that would make blood tests cheaper, more convenient and accessible to consumers. Holmes dropped out …
Technology and products
Theranos claimed to have developed devices to automate and miniaturize blood tests using microscopic blood volumes. Theranos dubbed its blood collection vessel the "nanotainer" and its analysis machine the "Edison". Holmes reportedly named the device "Edison" after inventor Thomas Edison, stating, "We tried everything else and it failed, so let's call it the Edison." This was likely because of a well-known Edison quote: "I've not failed. I've just found 10,000 ways that won…
Corporate affairs
Theranos was headquartered in Palo Alto, California. It previously had laboratories in Newark, California, and Scottsdale, Arizona.
From its incorporation in 2003 until 2018, Holmes was the company's chief executive officer. She recruited Channing Robertson, a chemical-engineering professor at Stanford, to be a technical advisor and the company's first board …
Books and documentaries
John Carreyrou, a Wall Street Journal journalist whose work exposed Theranos, published a book-length treatment in May 2018 titled Bad Blood: Secrets and Lies in a Silicon Valley Startup. A film version was reportedly scheduled for release in 2020, starring Jennifer Lawrence as Elizabeth Holmes, written by Vanessa Taylor and directed by Adam McKay. In January 2022, McKay stated that preparations for the film had resumed, and that Lawrence was working on learning Holmes' …
See also
• Ian Gibbons, Theranos's chief scientist who died by suicide in 2013
• Richard Fuisz, defendant in a patent related lawsuit filed by Theranos and its CEO
External links
• Official website (Archived)
• Theranos patents at USPTO
• Theranos Original Pitchdeck 2006, "A Presentation for Investors"
• "Elizabeth Holmes on Her Billion-Dollar Health Care Idea", Charlie Rose via YouTube, June 3, 2015.