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EverlyWell is a digital health platform that provides health testing at home. EverlyWell provides about thirty-five home sample collection kits that utilize urine, blood, or saliva to assess several health factors, which includes metabolism and food sensitivity tests.
With these home sample collection kits from EverlyWell, people do not have to wait in long lines at the clinic. They can have their sample collected at home and just have to wait for a few days for the results.
After purchasing a kit from EverlyWell, customers just have to take samples and send them to one of EverlyWell’s specified laboratories to be examined by a doctor. The results are then accessible within about five business days and can be viewed online.
EverlyWell Net Worth
The net worth of EverlyWell is estimated to be around $2.5 million to $3 million.
EverlyWell’s Founder
Julia Cheeks is the founder and the current Chief Executive Officer of EverlyWell. Julia Cheeks came up with the idea of EverlyWell in 2016 when she had to wait for weeks for the results of a simple test that should not have taken too long to be examined.
Julia Cheeks was extremely dissatisfied with this and decided to search further for any services that provided quicker results of relatively simple medical tests. When she did not find the services that she was looking for, she decided to form her own company that would provide such services.
EverlyWell During Shark Tank
Julia Cheeks entered Shark Tank seeking $1 million in exchange for a 5% stake in her company. This suggested a valuation of $20 million, which raised some questions among the Sharks early on.
In her pitch, Julia Cheeks narrated how she got the idea for the company and how she founded the company. She went on to say that she wanted to make it easy for people to receive lab tests.
Julia Cheeks then proceeded to distribute sample kits from her company to the Sharks. When Robert Herjavec asked about the prices of the home kits and the sales made by the company, Julia replied that the prices ranged from $69 to $399. She also mentioned that the sales were worth $2 million since the company has been operational.
What impressed the Sharks was that the company was on a $400,000 run rate and that it increased by 20% on a monthly basis. Julia also stated that she predicted sales to be worth $4 million the next year and $12 million the year after that.
When the time for offering deals came, Mark Cuban, Barbara Corcoran, and Robert Herjavec went out. They all believed that the competition was strong for the company and that too much money would be needed to invest.
Meanwhile, Lori Greiner offered a $1 million line of credit at 8% in exchange for a 5% stake in EverlyWell. Julia Cheeks accepted the offer right away and left Shark Tank with a wide smile on her face.
What Happened to EverlyWell After Shark Tank Deal?
After the deal with Lori Greiner at Shark Tank, EverlyWell has been making to increase retail sales at various pharmacies around the United States of America. Julia has also been increasing doctors so that her network of medical expertise in the company increased and the test results were given out quicker.
