BluChew's Viagra Patent Play
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Sam Parr shares how BluChew was built after founders spotted the expiring Viagra patent opportunity.
"About 6 weeks ago I went to these guys' office and met the two founders. One was a doctor and the other was a commodities trader. They worked together and were like 'what can we start?' They saw that the Viagra patent was going to expire in 2017 and they were just plotting and plotting.
BluChew is basically a telehealth business where you call in and say what your issue is. Their main thing is their pill for erectile dysfunction. I didn't realize the customer base for that is like 150-200 million people in the world, and it's projected by 2030 to be like 400-500 million.
They bootstrapped this company starting in 2017. I don't know exactly how big they are but I'm pretty sure they're between $100-200 million a year in sales. They entirely bootstrapped this company because of that patent expiring. When I was looking at some of their numbers on SimilarWeb, they had like 2 million people a month coming to their website. I think this company is probably almost as big as Hims, and I'm pretty sure the two guys own most all of it - they haven't taken any financing."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.