Nas Scores Another Investment Victory With The Sale Of PillPack To Amazon For $1 Billion
Nas' venture capital fund, Queensbridge Venture Partners, were an early investor in the new prescription drug delivery service. QVP participated in an initial investment round that helped raise $8.8 million for the startup company. PillPack will streamline the prescription drug delivery process for people that require multiple daily medications and will ship to 50 states.
Amazon CEO Worldwide Consumer, Jeff Wilke states that “PillPack is meaningfully improving its customers’ lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier. We’re excited to see what we can do together on behalf of customers over time.”
The acquisition of PillPack marks the second time Amazon has purchased a Queensbridge Venture Partners-backed company. Back in February 2017, the e-commerce giant also bought the home security startup Ring for a reported $1.2 billion.
Together with QVP's investment, Pillpack raised a total of roughly $118 million in private capital before the acquisition by Amazon. But don't scoff at QVP's investment power, they have currently invested in direct-to-consumer mattress company Casper, ticket reseller SeatGeek, digital media brand Genius and ride-sharing service Lyft, among others.
Nas is actually doing pretty well in the business world and is racking a fair amount of cash, as we saw in his monthly income/expenses from legal documents attained from his child support case.