Today, WSJ Venture Capital Pro highlighted our investment in Medly.
A startup can compete against larger companies by offering consumers an experience they can’t get elsewhere, said Volition Managing Partner Larry Cheng. Mr. Cheng previously invested in Chewy Inc., which sells pet products online. Chewy was acquired by PetSmart Inc. for $3.35 billion in 2017 and then went public in June 2019. Consumers calling Chewy customer service could easily speak with a pet lover who would spend extensive time on the phone with them if needed, Mr. Cheng said.
According to our Consumer Sentiment Study, of the Americans that tried prescription drug delivery for the first time during the pandemic, almost 97% of them said they would continue using it after the pandemic. Building that type of customer loyalty is at the heart of Medly’s approach.