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Former New York Yankees DH Alex Rodriguez and fiancee Jennifer Lopez have been pulled in their bid to buy the New York Mets. But they’re about to hit a home run with an initial public offering. By Sportico:
A-Rod’s post-baseball business empire takes its first stock market victory, as telehealth and personal care unicorn Hims & Hers is set to go public through a special purpose acquisition company.
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According to Sportico, Rodriguez and Lopez invested in Hims & Hers in 2019.
Hims & Hers is a direct-to-consumer business that started out as a prescriber of Viagra by mail, but has developed its primary focus towards telemedicine, as well as mental health support offerings and the sale of personal care products focused on hair, skin and healthy sex. The company revealed that it had about 260,000 prescription subscribers in June and that it had held more than two million telehealth appointments.
Sportico reports that the stake held by Rodriguez and Lopez “could be worth up to $ 79 million, based on the fact that they hold less than 5% of the company’s capital.”
“As an investment, Hims & Hers has been a great model of what the best kind of partnership looks like for us: a business with great fundamentals, but also a business where our endorsement and support can add value. significant to improve the trajectory, ”Rodriguez said in an email.
Rodriguez and Lopez had hoped to add the Mets to their empire. But they were beaten by billionaire hedge fund manager Steve Cohen, who struck his $ 2.4 billion deal to buy the club in November.
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