Truemeds Eyes DealShare Acquisition At $90 Mn, 95% Below Peak Valuation: Report

Online pharmacy Truemeds is in advanced negotiations to acquire ecommerce startup DealShare in a share-swap deal, according to reports. The deal would value DealShare at around $90 million, a significant drop from its peak valuation of $1.7 billion in 2022. Truemeds plans to issue shares to DealShare's investors at a valuation of about $600 million.

The final terms are still being finalized. Truemeds and DealShare have not yet responded to inquiries. This valuation is only slightly higher than DealShare's current cash balance of over $90 million, suggesting the transaction is primarily based on the startup's cash reserves rather than its operating business. The acquisition could provide Truemeds with a foothold in smaller cities, where DealShare has a strong presence, and help Truemeds bolster its fulfillment network outside metro areas.