PharmEasy Co-Founders Exit Amid Valuation Plunge to $456 Million

In a significant shift for PharmEasy, four of the startup’s co-founders are stepping down after the company’s valuation took a dramatic hit. The online pharmacy, once valued at $5.6 billion, is now valued at just $456 million, marking a 90% decline in its worth over a short span. Despite these changes, Siddharth Shah, the remaining co-founder, will continue to lead the company as CEO.

The transition of Dharmil, Dhaval, Harsh, and Hardik has been in progress since PharmEasy secured funding in April 2024. During this funding round, the company raised $216 million from a group of investors, including Manipal Education and Medical Group (MEMG), Temasek, Prosus, and 360 One. This latest funding round valued PharmEasy at approximately $700 million, a stark contrast to its $5.6 billion peak in 2021.

While this shift in leadership and valuation signals challenging times for the online pharmacy, the company’s future direction will be led by Siddharth Shah, who has been at the helm since its inception.

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