What is theranos?
What is theranos?
Theranos is a now-defunct healthcare technology startup founded by disgraced Stanford drop-out Elizabeth Holmes.
Theranos was an American privately held corporation that was touted as a breakthrough health technology company, with claims of having devised blood tests that required only very small amounts of blood and could be performed very rapidly using small automated devices the company had developed. However, these claims were later proven to be false.
Founded in 2003 by 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
The startup was founded in Feb. 2014, was headquartered in Palo Alto, Calif., according to Bloomberg. The company grew to become a business worth billions.
But Theranos shared very little about its blood-testing machine with the public or medical community. Holmes said she was inspired to start the company in response to her fear of needles.
