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according to xxlmag.com, Amazon announced a $1 billion acquisition of an online pharmacy startup named PillPack. The news makes a handful of investors in the company very rich, including none other than Nas.
Queensbridge Venture Partners, the rapper’s venture capital firm, was an early backer of the Boston-based firm, along with VC heavyweights like Accel and Sherpa Capital. The sale will net the startup’s two co-founders around $100 million each, according to the Chicago Tribune. It’s likely Nas is walking away with a solid chunk of money.
PillPack’s pitch is to streamline access to medications. The company fulfills drug prescriptions with front door-shipping, while managing the payment and refill process with automated software. The acquisition boosts Amazon’s growing efforts to expand into the health care market.
Nas is no stranger to seed investments. QVP, founded in 2014, previously invested in a cloud-based mastering company, a cricket protein bar manufacturer and a “smart doorbell” startup, among other ventures. Previous reports also included tech giants like Lyft and Dropbox in the firm’s portfolio.
