Home Entertainment Nas scores big from Amazon’s $1bn acquisition of PillPack

Nas scores big from Amazon’s $1bn acquisition of PillPack

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American rapper and entrepreneur Nas, who recently released his 11th album, scored a huge pay-out from Amazon’s recent acquisition of PillPack

Nas’s venture capital fund reportedly scored another victory when Amazon recently announced that it had acquired online pharmacy PillPack for a reported $1 billion. The rapper’s real name is Nasir Jones.

According to Fox Business, Jones’s Queensbridge Venture Partners was an early investor in the prescription drug delivery service back in 2014.

This is the second time that Amazon has purchased a company that counted Queensbridge Venture Partners as an early investor. Earlier this year, Nas reportedly earned $40 million when Amazon acquired Ring – a company which manufactures Internet-connected doorbells, cameras and smart home products – in a deal reportedly worth $1,1 billion.

Queensbridge Venture Partners participated in an early investment round for PillPack that raised $8,8 million for the start-up, which streamlines the prescription drug delivery process for people who require multiple daily medications to all 50 US states.

The investors in the PillPack, which also include Accel and Sherpa Capital, reportedly own about 60% of the company. PillPack has raised $118 million in venture funding.

Amazon Worldwide Consumer CEO Jeff Wilke said that PillPack’s visionary team has a combination of deep pharmaceutical experience and a focus on technology.

“PillPack is meaningfully improving its customers’ lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier. We’re excited to see what we can do together on behalf of customers over time,” said Wilke.

Bloomberg reports the deal will give Amazon a nationwide drug network and bring it into direct competition with traditional pharmacy chains, including Walgreens Boots Alliance and CVS Health Corp.

Jones’s firm has also invested in direct-to-consumer mattress company Casper, ticket reseller SeatGeek, digital media brand Genius and ride-sharing service Lyft.

Sources: Bloomberg and Fox Business/Destiny Man 

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