Amazon Buys Out Nas for $1 Bill…Each!, JACKPOT
2014: Nas Invests In Ring & PillPack.
2018: Amazon Buys Ring & PillPack For $1B Each
Hip-hop artist, entrepreneur and tech investor Nas, 44, was an early investor in PillPack, an online pharmacy that Amazon just bought for $1 billion.
Nas’ venture capital fund, QueensBridge Venture Partners, participated in a 2014 Series B investment round that raised $8.8 million for the startup, which streamlines the prescription drug delivery process for people who need multiple daily medications.
Prior to the sale to Amazon, PillPack raised more than $117 million in outside funding from backers including QueensBridge Venture Partners and Facebook-investors Accel Partners, and Sherpa Capital. Earlier investors included a group led by venture capital firms Atlas Ventures and Founder Collective, CNBC reported.
This isn’t the first time Amazon has bought a company whose early investors included QueensBridge Venture Partners. In February 2018, the e-commerce giant bought home security tech startup Ring for $1.1 billion, Forbes reported.
Nas’ QueensBridge Venture Partners invested $4.5 million in Ring in a July 2014 Series A round. The Amazon sale earned Nas a reported $40 million, according to Forbes.
Credits to: www.moguldom.com (edited)