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article imageCo-founders of PillPack get $100 million each in Amazon deal

By Lisa Cumming     Jul 7, 2018 in Business
The co-founders of PillPack, an online pharmacy, are reported to be receiving about $100 million each in the Amazon deal.
CEO TJ Parker CTO and Elliot Cohen each own "roughly 10 percent" of PillPack, according to the Chicago Tribune. The company also happens to be backed by rapper and investor Nas whose VC firm, Queensbridge Venture Partners, was an early backer, according to XXL Mag.
Read More: Amazon to buy online pharmacy PillPack
Amazon payed $1 billion for PillPack, making it one of Amazon's largest acquisitions behind Whole Foods and Zappos.
The news that Amazon bought PillPack drove the stocks of competing pharmacy chains, and certain health insurers, down. Some have predicted that the acquisition could actually lower the cost of prescription drug prices across the market.
For independent pharmacies this announcement is an opportunity, according to Drug Topics, as independents already offer conveniences services that they may have not promoted: "adherence packaging and same-day home delivery services."
More about pillpack, Amazon, Accel, Sherpa Capital, Queensbridge Venture Partners
 
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