GoodRx Shares Soar 50% on Wall Street Debut

Rachel Uranga

Rachel Uranga is dot.LA's Managing Editor, News. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.

GoodRx Shares Soar 50% on Wall Street Debut

Prescription discount GoodRx shares skyrocketed more than 50% in its Wall Street debut on Wednesday. Shares started trading under the symbol "GDRX" at an IPO pricing of $33 each but quickly rose landing at $50.50 per share at market close.

GoodRx is the first Los Angeles tech company to go public this year and follows a wave of other tech companies that have recently gone public, including Unity and Snowflake.


Co-founded by former Facebook executive Doug Hirsch in 2011, the Santa Monica company makes money by collecting fees from pharmacy benefits managers.

The popular app provides comparison drug pricing at different pharmacies, breaking down what is often a murky market. Hirsch told dot.LA in an interview earlier this year that the idea came to him when, on a whim, he began comparing drug prices at local pharmacies and found pharmacists could not explain the difference.

Over recent years, GoodRx has boasted steady growth. The company earned $54 million in profit for the first six months ending in June, up from $31 million over the same time last year, a 74% increase. It has $697 million in debt as of June 30.

Last year, GoodRx expanded into telehealth with HeyDoctor. While patients have flocked to the new service during the pandemic, the division is less profitable than the prescription side of the business.

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Astroforge Raises $13M To Mine Asteroids

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

Astroforge Raises $13M To Mine Asteroids

Y Combinator startup Astroforge wants to use its new $13 million seed round to mine asteroids.

The Huntington Beach-based company aims to become the first company to bring asteroid resources back to Earth, TechCrunch reported Thursday. Initialized Capital led the funding round and was joined by investors Seven Seven Six, EarthRise, Aera VC, Liquid 2 and Soma.

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Illumix Founder Kirin Sinha On Using Math to Inform Creative Thinking

Yasmin Nouri

Yasmin is the host of the "Behind Her Empire" podcast, focused on highlighting self-made women leaders and entrepreneurs and how they tackle their career, money, family and life.

Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.

Illumix Founder Kirin Sinha
Photo courtesy of Illumix

Kirin Sinha wanted to be a dancer. When injury dashed that dream, she turned to her other passion: math.

On this week’s episode of the Behind Her Empire podcast, host Yasmin Nouri talks with the founder and CEO of augmented reality (AR) technology and media platform Illumix.

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Rael Raises $35M To Grow Its Organic Feminine Care Brand

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

Rael Raises $35M To Grow Its Organic Feminine Care Brand
Courtesy of Rael

Rael, a Buena Park-based organic feminine care and beauty brand, has raised $35 million in a Series B funding round, the company announced Wednesday.

The funding was led by the venture arms of two Asian companies: Japanese gaming firm Colopl’s Colopl Next and South Korean conglomerate Shinsegae Group’s Signite Partners. Aarden Partners and ST Capital also participated, as did existing investors Mirae Asset and Unilever Ventures.

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