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What to make of Stripe’s possible $100B valuation - techcrunch

What to make of Stripe’s possible $100B valuation

This is The TechCrunch Exchange, a newsletter that goes out on Saturdays, based on the column of the same name. You can sign up for the email here. Welcome to a special Thanksgiving edition of The Exchange. Today we will be brief. But not silent, as there is much to talk about. Up top, The Exchange noodled […]
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You might think that a new Netflix film called “Holidate” offers holiday-themed romance that’s perfect for a family watch party. You’d be wrong. The film stars Emma Roberts and Luke Bracey as a pair of strangers who agree (in classic romantic comedy style) to keep each other company on holidays. And while the movie can’t […]
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Black Friday on track for $8.9B+ in online sales as shoppers stay away from brick-and-mortar stores - techcrunch

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Black Friday — the day that launched 1,000 other shopping holidays — may have lost its place as the “start” of the Christmas shopping season by now (it gets bigger and earlier with each passing year). But the day after Thanksgiving still pulls in a crowd of buyers looking for a bargain and remains a major […]
techcrunch - 19 hours ago
Tony Hsieh, iconic Las Vegas tech entrepreneur, dies aged 46 - techcrunch

Tony Hsieh, iconic Las Vegas tech entrepreneur, dies aged 46

Tony Hsieh, the former head of Zappos who catapulted the shoe company into the big leagues with a sale to Amazon and then used the proceeds of his success in a huge project kickstarting regeneration of a run-down part of Las Vegas, Nevada, with tech and wider business investments, has died aged 46. The cause […]
techcrunch - 23 hours ago
Facebook’s Libra could launch in January - techcrunch

Facebook’s Libra could launch in January

According to a report from the Financial Times, Facebook-backed cryptocurrency Libra could launch in January. More interestingly, the Libra Association, the consortium created by Facebook, could scale back its ambitions once again. When it was first unveiled, the Libra cryptocurrency was supposed to be a brand new currency tied to a basket of fiat currencies […]
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India sets rules for commissions, surge pricing for Uber and Ola - techcrunch

India sets rules for commissions, surge pricing for Uber and Ola

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There’s no ‘hacker house’ geared toward undergraduate women, so they created one of their own - techcrunch

There’s no ‘hacker house’ geared toward undergraduate women, so they created one of their own

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Is Slack overpriced now that the market knows Salesforce might buy it? - techcrunch

Is Slack overpriced now that the market knows Salesforce might buy it?

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When it comes to Thanksgiving, the assumption is that the turkey, sweet potato pie and apple pie turn into unwanted points that never come off. For many, this makes Thanksgiving a scarier holiday than Halloween. Withings study shows it’s turkeys that get stuffed on Thanksgiving and not humans. However, according to a new study by […] The post Withings Study Shows it’s Turkeys that get Stuffed on Thanksgiving not Humans appeared first on ReadWrite.
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techcrunch
Index ventures into Latin America to back Sofia, a Mexico City-based telemedicine and health insurer

Index ventures into Latin America to back Sofia, a Mexico City-based telemedicine and health insurer

techcrunch - 1 week ago

Arturo Sanchez and his co-founders have spent the past two years developing the telemedicine and insurance platform, Sofia, as a way to give customers across Mexico better access to quality healthcare through their insurance plan.

Along with his co-founders, Sebastian Jimenez, a former Google employee who serves as the company’s chief product officer, and Manuel Andere an ex-Patreon employee who’s now Sofia’s chief technology officer, Sanchez  (a former Index Ventures employee) is on a path to provide low-cost insurance for middle class consumers across Latin America, starting in Mexico City.

Backing that vision are a clutch of regional and international investors including Kaszek Ventures, Ribbit Capital, and Index Ventures. When Index Ventures came in to lead the company’s $19 million round earlier this year, it was the first commitment that the venture firm had made in Latin America, but given the strength of the market, it likely won’t be their last.

In Sofia, Index has found a good foothold from which to expand its activity. The company which initially started as a telemedicine platform recently received approvals to operate as an insurer as well — part of a long-term vision for growth where it provides a full service health platform for customers.

Founded by three college friends who graduated from the Instituto Tecnológico Autónomo de México (Mexico’s version of MIT), the company initially launched with COVID-19 related telemedicine service as the pandemic took hold in Mexico.

That service was a placeholder for what Sanchez said was the broader company vision. And while that product alone had 10,000 users signed up for it, the new vision is broader.

“We registered as an insurance company because we want to go deeper into people’s health. We have built a telemedicine solution, which is a core component of the product. The goal is to be an integrated provider that provide primary care and handles more significant types of illnesses,” said Sanchez.

The company already has a core group of 100 physicians in Mexico City and initially will be serving the city with 70 different specialist areas.

All the virtual consultations are covered without an additional payment and in-person or specialty consultations come at a 30% reduced rate to an out-of-pocket payment, according to Sanchez.

Fees depend on age and gender, but Sanchez said a customer would typically pay around $500 per-year or roughly between $40 and $50 per-month.

The company covers 70% of the cost of most treatments that’s capped at $2,000 per-year and coverage maxes out at $75,000. “In Mexico that covers north of 98% of all illnesses or treatment episodes,” said Sanchez.

In Mexico, insurance is even less common than in the US.

90% of private health spend happens out of pocket. The problem that were trying to solve is for these people that are already spending money on healthcare but doing it in an unpredictable and risky way,” said Sanchez. “They buy [our service] and they have access to great quality healthcare that they buy it and its a significant step up from what theyve been living with.”

 

sauce: techcrunch
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