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Ex-Yankees slug Alex Rodriguez, Jennifer Lopez by hitting jackpot with IPO



Former New York Yankees DH Alex Rodriguez and fiancée Jennifer Lopez struck out in their attempt to buy the New York Mets. But they are hitting a home run with an initial public offering. Per Sportico:

A-Rod’s post-baseball business empire scores its first victory in the stock market as Unicorn Hims & Hers with telehealth and personal care is ready to be announced by the company for the acquisition of special purposes.

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According to Sportico, Rodriguez and Lopez invested in Hims & Hers in 201

9.

Hims & Hers is a consumer-friendly company that started as a Viagra-via-post-prescribing drug but has developed its primary focus on telemedicine along with mental health support and sales of personal care products with a focus on hair, skin and sexual health. The company said it has about 260,000 subscribers on prescription as of June and has held more than two million telehealth deals.

Sportico reports that the share, owned by Rodriguez and Lopez, “could be worth as much as $ 79 million, based on the fact that they own less than 5% of the company’s equity.”

“As an investment, Hims & Hers has been a great model for what the best kind of partnership looks like for us: a company with good fundamentals, but also one where our commitment and support can add meaningful value to improve the course,” said Rodriguez in an email.

Rodriguez and Lopez had hoped to add meters to their empire. But they were knocked out by billionaire hedge fund manager Steve Cohen, who closed his $ 2.4 billion dollar deal to buy the club in November.

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