The Ledger
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Weight loss is not the majority of Hims & Hers' revenue
“So weight loss is actually, you know, nowhere near the majority of this business. And I don't think ever will be just because you're continuing to expand core categories and a lot of new categories.”
Dudum: Hims has pharmaceutical margins, unlike traditional DTC businesses
“You also have a margin structure that is fundamentally different from every direct consumer business, because essentially this is a big pharmaceutical company.”
Hiring non-startup corporate executives to scale is a mistake
“I think often people as they scale, maybe founders as they scale fall into the trap of trying to hire people that have seen bigger scale than them and are more strategic. And they feel like they've gotten to the point of success where now it's time where they …”
Hims & Hers spends $1 billion annually on marketing
“So we deploy about a billion dollars in marketing spend every year across the hims and hers brands.”
Statins cost Hims & Hers two cents per dose to manufacture
“A statin is, you know, two cents for me to manufacture.”
Hims & Hers treats over 10,000 patients daily
“So we treat, you know, 10,000 plus patients a day. We're probably the largest healthcare system in the U S. If you actually look at volume of patients treated. And now with recent markets, you know, definitely the largest globally from a digital health standpo…”
Launching commodity skincare and vitamins was a massive mistake for Hims
“So in the early years you know, I thought just having everything on the platform was how you win. And so we invested in, ah, skin care regiments, and we invested in vitamin supplements, and we invested in, you know, so many things that in retrospect were fairl…”
Feeling close to losing control is what success feels like
“What I've found at least in running this business is, is if you don't feel like you are getting close to that line, you're probably not pushing hard enough. And so I do think That uncomfortable gut feeling where you're constantly questioning, constantly evalua…”
Hims & Hers is spending hundreds of millions to verticalize labs
“And that requires us to spend hundreds of millions of dollars, which we're doing right now to totally verticalize this stuff and actually own the devices, the lab processing and that fulfillment.”
Dudum: Hims & Hers Went Public With Only 100-150 Employees
“With hims and hers, we're going public in the next couple of days. By the time people are listening to this, we might actually already be public, and the company is about a hundred people, 150 people, and that's incredibly small relative to Traditional Silicon…”
Dudum: Startups Should Hire Specialists Immediately After Product-Market Fit
“The moment you have that moment where people are willing to pay for your offering, that's where I believe the specialization is really beneficial because you're talking about experience, brand, engineering, customer service, supply chain, whatever it might be.…”
AI search growth has not significantly altered Hims customer acquisition
“You know, it hasn't had particularly dramatic changes since since, you know, some of these new AI companies have grown.”
Hims & Hers will not be first to market in peptides
“You won't see us be first to market in this category. You'll see us when we launch it, feel extremely confident in the clinical protocols, extremely confident in the guardrails, make sure that the supply chain and the quality is done to a level we are, you kno…”
Hims & Hers was a year or two too slow adopting AI
“I think I was too slow to force the company to invest in completely disrupting their team processes with AI... I think customer care, provider quality, all patient interactions. I think we were a year or two too slow on, on totally changing the model of how pa…”
One-off brand marketing campaigns are a guaranteed way to lose money
“Like that's just like, it's a guaranteed way to just lose money. It's a great way to feel good. And it's super fun. It's like so much fun and we've done ton of it and it's really fun, but like, that's not a business strategy.”
Hims & Hers offers lab testing essentially at cost
“Right, right now it's the lab testing offering. We offer it essentially at cost. We haven't verticalized any of this infrastructure, so it costs us, you know, pretty much just as much money as we sell it for.”
Hims & Hers acquired at-home blood device maker YourBio Health
“So last year we acquired your bio health, which is one of the few at home blood collection devices.”
Dudum: 90% of Hims & Hers revenue is recurring subscriptions
“90% of business is recurring revenue.”
Dudum: Hims & Hers is approaching $150M in revenue after three years
“With now just three years in, we're approaching hundred and fifty million in revenue roughly, right?”
Ron Conway introduced Snoop Dogg to Andrew Dudum before Snoop invested
“Ron Conway introduced me to Snoop. We smoked weed, ate Popeyes, and ate our vitamin gummies, and he loved the vitamin gummies and decided to get signed up.”
Dudum: Hims & Hers Achieved Product-Market Fit Within First Month
“We hit product market fit within the first month or so of launch”
Dudum: Specialized executive talent seeks broader scope than past roles offered
“I think one of the things that I've found is people that have incredible careers of specialization and they've built businesses and are really experts at what they do. They always want to push and prove to themselves that they can take on more ownership. And s…”
Hims launched with five employees and scaled with only twenty staff
“When I look back at HIMSS, when we launched the company, there were five people. There were five employees on November first when we launched the company. Those five employees have been working on the brand for about 18 months, and just up until a month or two…”
Dudum: Hims ships tens of thousands of product boxes per day
“We are shipping tens of thousands of boxes a day.”
Hims advertises in SF Giants bathrooms and thousands of gym locker rooms
“When you look at HIMSS, you know, we're in a lot of basic channels, the Facebook, Instagram, TV, and things that are very common, but you'll also find us in thousands of gym locker rooms. You'll find us all of the bathrooms at the SF Giants.”
Hims prototype hit $1M ARR in five weeks on $50K spend
“We put maybe 50,000 dollars into it and we did zero to a million dollars in recurring revenue in five weeks. And this was a prototype we had built over two or three days on a weekend.”
Hims & Hers operates 1 million square feet of pharmacy fulfillment
“We operate about a million square feet of pharmacy fulfillment throughout the US.”
Stebbings: Hims & Hers among fastest to reach $1B valuation and IPO
“They are one of the fastest companies to go from founding to one billion dollars, and they're also one of the fastest companies to go from founding to IPO.”
Dudum: Hims had to completely rebuild its operations within six months
“Quite literally within the first six months, we had to rebuild the company after launch.”
Dudum: Pixar's Creativity, Inc. inspired Atomic and Hims' organizational structure
“My favorite book is Creativity, Inc. It's a phenomenal book about the way in which Pixar structures its organization, its teams, to enable as much inspiration, as much creativity as possible, and essentially to destruct any bureaucracy and processes that might…”