- Eric Lefkofsky aims to take Tempus, his AI health tech firm, public.
- Despite $290 million losses in 2023, Tempus seeks over $8.1 billion valuation.
- Lefkofsky wields outsized control with 30 votes per share at Tempus.
Serial entrepreneur Eric Lefkofsky, co-founder of the once-mighty Groupon, prepares to take his AI-powered health tech company Tempus public.
Having already steered three companies through IPOs – Groupon, InnerWorkings, and Echo Global Logistics – Lefkofsky hopes the fourth time’s the charm.
Tempus specializes in genomic testing and data analysis, fueled by the billionaire’s vision to harness cutting-edge technology for cancer care.
Money talks, valuation walks
Tempus aims high, seeking a valuation surpassing its latest $8.1 billion private funding round. Though unprofitable, with losses totaling $290 million in 2023, the company touts impressive revenue growth – a 66% jump to $531 million.
Investors like SoftBank, NEA, and Baillie Gifford have already poured in $1.42 billion, betting on Lefkofsky’s knack for turning startups into unicorns.
Lefkofsky keeps a firm grip on Tempus’ reins
Lefkofsky’s influence looms large at Tempus. His shares command an eye-popping 30 votes each, an unusually high shareholder clout for a healthcare firm.
Moreover, the billionaire enjoys perks like a $5.3 million dividend, preferred shares worth $7.5 million, and $200,000 for private jet expenses – all while forgoing a salary.
Tempus’ success may hinge on Lefkofsky’s marketing prowess and fundraising abilities.
