This was a startup that would have required a 2 year run way to get into the B2B sales of a tricky market.
There was clearly value on the table, working out how to make money form it would have been 80% of the effort, but I suggest there's something there.
He should have given it away for free.
There's a 1000% chance that if all of a sudden, doctors all over the place start using a tool because they think it's useful, and recommend it to their friends, that it would find a way to be successful.
Are there really any significant acquisitions happening just for some database? I don't think this happens unless the data is absolutely massive and very unique.
Yes, and Doctors are the most valuable segment in the world, a bit more than bankers. Because while bankers have $ to spend on consumer stuff, it's a bit hard to target them with financial services. But Doctors are gateway to the entirety of Healthare.
There are companies that specialize in how Drug Sales teams are organized - who to target, what regions. That's 'very valuable'.
Literally just ads for drugs. That's it. If Pfizer had a tool that was used by 10% of Doctors, and literally just slipped in some sponsorship, it'd be worth a fortune.
No doubt everyone involved would be wary of a 'drug recommendation engine owned by a drug company' ... but that could be mitigated. And frankly, some 'bad actors' wouldn't care.
There are ample opportunities.
If I were a VC someone came to me and said 'I have a tool that Doctors really like and 2% are already using it on a weekly basis, and we are growing and this could be 10% or more in the future' ...
... I would just write them a check.
So long as the CEO was not insane, and they looked legit.
It'd be worth a fortune.
That said, it's hard to tell if it's that kind of tool.
That said, my 'spidey sense' says there are big opportunities there because Doctors and Pharmacist are overwhelmed, but it's probably a hard problem, and there must be other participants.
There was clearly value on the table, working out how to make money form it would have been 80% of the effort, but I suggest there's something there.
He should have given it away for free.
There's a 1000% chance that if all of a sudden, doctors all over the place start using a tool because they think it's useful, and recommend it to their friends, that it would find a way to be successful.
A drug company would buy that just for the data.