Who backed Theranos?
Table of Contents
Who backed Theranos?
Theranos
| Formerly | Real-Time Cures |
|---|---|
| Founded | 2003 |
| Founder | Elizabeth Holmes |
| Defunct | September 4, 2018 |
| Fate | Dissolved and liquidated; founder indicted for wire fraud and conspiracy |
How much money did Walgreens lose with Theranos?
Walgreens, which began testing in late 2013 in Palo Alto and Arizona, and had Theranos’ “wellness centers” in 41 locations at one point, ended the Theranos partnership in 2016. The company sued Theranos, eventually arriving at a settlement of less than $30 million.
Where did the Theranos money go?
While the government argued Theranos hemorrhaged money while its founder painted rosy pictures for investors, Elizabeth Holmes’ lawyer said the money was being poured into research and development — a common practice for Silicon Valley startups.
How much money did Elizabeth Holmes raise for Theranos?
Holmes founded Theranos in 2003 as a 19-year-old Stanford dropout. She raised $945 million from investors and was crowned the world’s youngest billionaire, but has been accused of lying about how well Theranos’s technology worked.
How much did Larry Ellison invest in Theranos?
Those big promises have been shown to be a pattern from Holmes as she sought cash flow from investors. Eisenman testified that Holmes hinted that Oracle Corp. co-founder Larry Ellison intended to invest $20 million into her company.
How much did Safeway invest in Theranos?
Safeway anticipated an $85 million financial commitment, including a $55 million cash investment in Theranos and $30 million to remodel stores. “That number ended up being very low” because they had to do more extensive remodeling, Burd said.
How much money did Elizabeth Holmes take from investors?
Share All sharing options for: Theranos drained $96 million from an experienced investor — plus some blood.
How did Theranos raise $197 million?
After three years of early-round fundraising, Theranos receives a company valuation of $197 million. Theranos files a U.S. Securities and Exchange Commission form that states it has raised $45 million by selling equity, options, warrants, and other security rights.
Who is Theranos CEO Elizabeth Holmes?
Theranos and CEO Elizabeth Holmes committed ‘massive fraud,’ SEC alleges. Elizabeth Holmes, founder and CEO of Theranos, speaks in 2015, the same year she was touted by Forbes as the youngest self-made female billionaire.
Should Theranos investors have done more due diligence?
While Greeley does not fault the earliest Theranos investors, he thinks that the ones who invested when its valuation was at $9 billion should have done much more due diligence. As he said, “The early investors were looking at a visionary entrepreneur with a big story.
What is the Theranos settlement with partner fund management?
The civil monetary penalty against the company is only $30,000, says Theranos. The settlement with Partner Fund Management (PFM), one of the company’s largest investors, comes after PFM accuses them of securities fraud.