Los Angeles is seeing a renaissance in medical technology.
Earlier this month a venture capital firm headed by two former Amgen executives announced they raised $500 million to boost and incubate new life science and biotech companies across Los Angeles. And the firm, Westlake Village Biopartners, is working to develop a 30,000 square foot campus in Thousand Oaks.
- telehealth - dot.LA ›
- telemedicine - dot.LA ›
- Watch Three Los Angeles Health Startups Pitch Investors - dot.LA ›
- LA's Surgical Theater Gives Doctors a Virtual Look at Covid-19 - dot ... ›
GoodRx Shares Tumble but CEO Says he Never Looks at Stock Price: ‘If I Did, I Would Jump out this Window’
By all accounts, Santa Monica-based GoodRx delivered a strong first quarter as a public company. Year-over-year revenue beat analyst expectations, soaring 38%. Monthly active users increased a robust 29%. As the pandemic continued to rage across the United States, a record 4.9 million consumers used GoodRx to fill prescriptions.
"I think across the board I was really happy," said co-founder and CEO Doug Hirsch.
But Wall Street was not as pleased, with the stock closing down more than 6%. After mostly zigzagging since their September debut, shares now trade near where they did the first day of trading.
- GoodRx CEO Doug Hirsch on Inequality in US Healthcare - dot.LA ›
- How GoodRx Got Started - dot.LA ›
- GoodRx Shares Soar 50% on Wall Street Debut - dot.LA ›
- GoodRx Makes Prescription Drugs More Affordable - dot.LA ›
GoodRx earned dot.LA's top 2020 Startup award on Wednesday, beating out the popular sneaker reseller GOAT, the meditation application Headspace, mobile gamer Scopely and viral-video app TikTok.
"GoodRx started in Los Angeles, and will always be a Los Angeles-based company," said co-CEO Doug Hirsch. "We're so excited about the support we've received over the last decade from both entrepreneurs and investors and just incredible people that make up the ecosystem here in California and specifically in Los Angeles."
Pivot of the Year: Curative Inc.<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTExNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjU5MTI5NX0.pM73tZDRm3V9A5JyHu-R1NjWai-HOH7TuGI-Ga6P-lY/img.png?width=980" id="4dba0" class="rm-shortcode" data-rm-shortcode-id="267f3b38acca6bfb5532720fad230a8b" data-rm-shortcode-name="rebelmouse-image" data-width="526" data-height="526" />
Social Justice Award: Alejandro Guerrero<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTE4My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzODg3MDA5NH0.fQxq4punqafEMqsX3dMO9HXRclVmF30A1jttfz9oE7s/img.jpg?width=980" id="6335e" class="rm-shortcode" data-rm-shortcode-id="9b45abeacaa70b07c0267c0b4ac201b2" data-rm-shortcode-name="rebelmouse-image" data-width="200" data-height="200" />
Rising Entrepreneur: Morgan DeBaun<img lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTE5My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2OTIzNTEyMn0.r7zAFlGHbq9H9YoMEGPkq5LOILhQMO5EVXnASBuqTaY/image.png?width=600&coordinates=49%2C0%2C49%2C0&height=600" id="3949a" class="rm-shortcode" data-rm-shortcode-id="835305e0ba6360729fece3121835b003" data-rm-shortcode-name="rebelmouse-image" data-width="600" data-height="600" />
Rising Startup: Openpath<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTE5NS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2NzgyNjk4N30.WnCzEMK8t00pSE9kZok98bAnFbNhaKEMmxUpJdGeb30/img.jpg?width=980" id="30855" class="rm-shortcode" data-rm-shortcode-id="5821d2b30f5f8bef78c7e781f8e7508e" data-rm-shortcode-name="rebelmouse-image" data-width="400" data-height="400" />
Entrepreneur of the Year: Shivani Siroya<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTIyNC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2ODExMDE0MH0.-7cpyf3kFWbULeT2TtnBegrjpYnPJO-nnyrqGeUhnmU/img.jpg?width=980" id="6ed7b" class="rm-shortcode" data-rm-shortcode-id="d71bd28ff9f08d1728227d1326c998f2" data-rm-shortcode-name="rebelmouse-image" data-width="219" data-height="230" />
Startup of the Year: GoodRx<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTI0Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NDEwMDYyNX0.6-l952IAHHCBtktsdktNPjD1Jei1TeSFy9Ij_3b71hE/img.jpg?width=980" id="331e0" class="rm-shortcode" data-rm-shortcode-id="e7abea2960ef53726b8d60446a278b86" data-rm-shortcode-name="rebelmouse-image" data-width="1400" data-height="444" /><p>The prescription-discount app GoodRx became one of the first Los Angeles tech companies to go public this year.</p><p>Co-founded by former Facebook executive Doug Hirsch and Trevor Bezdek, the Santa Monica company makes money by collecting fees from pharmacy benefits managers.</p><p>GoodRx is the most downloaded medical app in the United States and boasts 70,000 pharmacies on its platform. It's also profitable. 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.</p><p>The company expanded into telehealth with the purchase of Heydoctor in 2019. </p><p><strong>Finalists</strong></p><p><strong>GOAT</strong>: Fast-growing global luxury shoe and apparel retailer.</p><p><strong>Headspace</strong>: A meditation app that recently raised $100 million in debt and equity.</p><p><strong>Scopely</strong>: A mobile video game company that acquired FoxNextGames from Disney in January. </p><p><strong>TikTok</strong>: The video-sharing platform was the top grossing app on iOS App Store globally in Q2 2020.</p>
- The dot.LA Summit Focuses on L.A.'s Growing Startup Scene - dot.LA ›
- GoodRx Stock Plummets After Amazon Announcement - dot.LA ›
- Los Angeles' Top Entrepreneurs, as Picked by its VCs - dot.LA ›