Nas Backed A Pharmacy Startup. Now It Is Being Acquired For $1 Billion
Just as Nas returns to music with last month’s Kanye West-produced NASIR album, a recent report shows that the musical legend has been doing just fine regardless of his album-making. At 44 years old, Nas is currently gaining recognition for his investments along with his introspective raps. The latest report shows that 2018 continues to put Nasir Jones and his team in some illustrious company.
Last Thursday (June 28), Amazon announced that it would be acquiring the online pharmacy startup PillPack for $1 billion. Nasir Jones was one of the company’s earliest backers. Queensbridge Venture Partners, the rapper’s venture capital firm, was among VCs like Accel and Sherpa Capital in making an early play.
According to the Chicago Tribune, the sale of PillPack will net the two co-founders of the startup around $100 million each. It is unclear publicly what kind of bundle of cash Nas will walk away with, but it is likely substantial.
PillPack is a service that streamlines access to medications with prearranged doses. The company fills prescriptions with front-door shipping while the processing of payment and refill is automated. Amazon reportedly made the play to buy the company to try and expand their influence and operations in the healthcare market.
Previously, Ambrosia For Heads reported about Nas’ big payout after the startup company Ring he invested in also was acquired by Amazon for over a billion dollars. The company is a doorbell startup and allows people to monitor their homes from their phone. It’s also unclear how much Nas benefited financially from the sale.
Aside from the two companies that Amazon has acquired, Nas and Queensbridge Venture Partners have been behind a slew of company investments and their own startups, including stakes in Lyft, Dropbox, Mass Appeal (and its record label of the same name), Genius, and the restaurant chain Sweet Chick. Nas’ manager and VC partner Anthony Saleh shared in a 2016 profile that “[QueensBridge Venture Partners] typically invests between $100,000 to $500,000 in a start-up, and helps fund about 20 companies a year.”
The MC’s twelfth album, the seven-song NASIR, released June 15, debuted at #5 on the charts.