Skievaski says Redox would reject a $50M acquisition offer from pharma
Nico Skievaski · 684: How to Raise Your First Round of Funding with Healthcare API, Redox Founder Niko Skievaski · Jun 8, 2017 · at 17:43
Redox co-founder Nico Skievaski responds to Nathan Latka asking if he would accept an acquisition offer from Amgen or Pfizer.
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“If Amgen or Pfizer offers you 40 or fifty million bucks for the company today, do you sell? No. From our perspective, well, well, and particularly because of those types of, you know, these are pharmaceutical companies. I don't think they're well suited to solve the problem we're trying to solve.”
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Redox raised a $3.5M Series A with only $2,000 MRR
“Well, we had that one live customer. So we were at about, you know, a thousand dollars or so, 2000 dollars a month in you know, MRR.”
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“A couple grand. So most people are connecting up to one or two or three health systems. Each health system connection is around a thousand dollars. So got that average of two, three grand per, per customer.”
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“Beyond, beyond just the one live customer, we had probably a couple hundred developers who had signed up and basically made applications on top of our APIs.”
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“So, so these health systems that are using us, they'll have between one and four or so applications that they'll be running through Redox. So, you know, on average, I'd say Two or so applications per health system. So that's like 200 or so applications that ar…”
Redox has only ever lost two live health system integrations
“The number that we care about is number of live connections between developers and health systems. And we've lost two on that. And in both cases, it was because the health system was running a pilot with that application and they decided not to extend the pilo…”