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Capsule is the largest company on this year’s Next Billion Dollar Startups list, racking up some $100 million in revenue last year by helping New Yorkers order their prescription medications by text or app, with home delivery in a two-hour window. Founder Eric Kinariwala, 37, launched the company in 2016 after a bad experience waiting in line at his local Duane Reade drugstore to pick up antibiotics for a sinus infection.
While Capsule was a convenience before the coronavirus crisis, Kinariwala figures it’s now a must-have for those customers who worry about being exposed to the virus at a store and especially for those who are elderly, high-risk or currently in isolation. It plans to expand far beyond New York City, something it should have no trouble doing since it has raised $270 million so far, more funds than any other next-billion-dollar startup on this list. “Everything is working beyond our expectations in New York,” Kinariwala says. “So now it is time to help the 97% of Americans who do not live in New York City.”
This is his story in becoming the founder of a company well on it’s way to a billion-dollar valuation.
Find Forbes’ Next Billion Dollar Starups list featuring the 25 companies to watch here: https://www.forbes.com/sites/amyfeldman/2020/05/28/next-billion-dollar-startups-2020/#6062b6a53f9f
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