The 'LinkedIn for Doctors' just went public and it's worth $10B

GIF courtesy of The Hustle Focus on Business From The Hustle The tech industry loves throwing around the phrase “Uber for X” as a quick way to explain on-demand startup ideas. Turns out “LinkedIn for X” may have been a better frame. Doximity — a “LinkedIn for doctors” — went public last Thursday… … and in two trading days, the company saw its market value ~2x to ~$10B. Doximity was founded in 2009 The initial team included two tech veterans (Jeff Tangney, Shari Buck) and a doctor (Nate Gross). Doximity set out with the goal of fixing the medical community’s antiquated communication methods. Tangney, who is CEO, tells CNBC that 80% of communication is done via snail mail and fax. The solution: build a medical social network In the decade since launch, Doximity has 1.8m medical professionals in the US (including 80%+ of physicians) on its platform. While building out the user base, the startup also created a secure way for doctors to share information with patients and other doctors. Like LinkedIn, Doximity has a 2-pronged revenue approach: Ads: Drugmakers market treatments to very niche audiences, while health systems “promote content” to doctors. Recruiting: Hospitals and health facilities use it to fill open roles. Doximity’s sales…
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