Jeff Tangney launched his first health-tech start-up, which was named Epocrates. This was done in the middle of the dot-com bubble. The company was able to survive the crash, and then it eventually went public, the endgame was a disappointing acquisition for less than $300 million.
He once again started his next venture called Doximity in 2010. With a new outlook, he had a lot of new things that he wanted to try out in this new enterprise. This was mainly for the best because he had a new experience in the line of work. This is a professional network of doctors. So if you want to explain Doximity in one word then you can say that it is like LinkedIn for Doctors.
On Thursday, Doximity debuted on the New York Stock Exchange, closing the week with a market cap of almost $10 billion after raising around $500 million in its IPO. Tangney’s stake is worth $2.9 billion.
“I did resist some of the Silicon Valley wisdom of, you need to go big, you need to hire 40 more salespeople and do all these things,” Tangney, 48, said in an interview on Thursday, after ringing the bell at the NYSE. “The reality of health care and our clients, who are very staid institutions, a lot of non-profits that have been around for 100 years, is that even if you lean in and hire tons of sales and marketing people, they’re not going to let you grow,” Tangney said.
This new enterprise sure does look really promising and is most probably going to make a big name out of it soon enough.
