But there’s a catalog of unsuccessful ventures, like JPMorgan Chase’s Finn and NatWest’s Bó. Recent failures suggest banks that fail to roll out differentiated offshoots struggle to convince customers to open a new account, and these prove to be costly failures. Acquiring advanced capabilities through acquisitions has benefits over a build strategy, like speed-to-market.
The startup serves over 400,000 members and is geared to rack up $165 million in revenue in 2021, according to its presentation at the 2021 JPMorgan Healthcare Conference. Currently, it offers telehealth in all 50 states and operates 48 clinics across 11 states. It’s backed by well-known brands like Amazon, which boosts its credibility and mindshare.