The Hustle

How a millennial-focused erectile dysfunction startup came to be worth $200m

Fun fact: ED and hair loss aren’t just “old person” things: 25% of men with male pattern baldness begin losing their flow before they reach 21, and 1 in 4 men who go to the doctor for ED are under...


March 6, 2018

Fun fact: ED and hair loss aren’t just “old person” things: 25% of men with male pattern baldness begin losing their flow before they reach 21, and 1 in 4 men who go to the doctor for ED are under the age of 40.

But rest easy, millennials, because men’s wellness startup, Hims, has raised $40m in funding to make sure you can keep your hair (and your boner) without the skin-crawling awkwardness that comes with in-office visits. The new round reportedly values the company at $200m.

That escalated quickly

Hims has only been around since late 2017 and has already sold around $10m worth of products for baldness and ED — which showcases how quickly a direct-to-consumer e-commerce business can go from zero to millions in sales.

According to TechCrunch, there are two key factors to their success:

Wellness… for dudes

Hims sells wellness kits starting at $40 with medications tailored and “elegantly” packaged to the specific millennial patient’s needs.

With Hims’ quick success, affordable pricing, and telehealth making its way into the mainstream, this market could give VCs around the country the rise in the pants they’re looking for.

Get the 5-minute roundup you’ll actually read in your inbox

Business and tech news in 5 minutes or less

100% free. We don’t spam. Unsubscribe whenever.

Exit mobile version