In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the female Steve Jobs: a brilliant Stanford dropout whose startup “unicorn” promised to revolutionize the medical industry with a machine that would make blood testing significantly faster and easier. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fundraising round that valued the company at more than $9 billion, putting Holmes’s worth at an estimated $4.7 billion. There was just one problem: The technology didn’t work. [more inside]
Gimlet is growing fast. There are four shows on the air, and several others in pre-production. If they want to grow faster, though, they could use some more cash. Matt and Alex head back into the world of venture capital, deciding whether or not to raise another round of financing, this time, much bigger.