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Selena Gomez’s mental health startup gets $100M valuation


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Teletubby

A startup cofounded by pop star Selena Gomez, Wondermind, is raising funds at a valuation of $100 million as it looks to capitalize on a boom in the mindfulness trend.

Tennis icon Serena Williams’s venture fund, Serena Ventures, led the $5 million early-stage round, which was joined by Lightspeed Venture Partners and Sequoia Capital. Brent Saunders, the former chief executive officer of pharmaceutical company Allergan, also took part.

Selena's Wondermind is focused on “mental fitness,” promoting routines to maintain mental health similar to how you’d go to a gym to stay physically fit. 
Selena, Mandy Teefey (Selena’s mother) and Daniella Pierson, the founder of pop culture newsletter Newsette, started the company after Pierson met the mother-daughter duo two years ago and quickly hit it off.

The mental health sector reached $5.5 billion last year, more than doubling its worth from 2020.

source

Reveals when?? Results when?? Do we have all submissions?? Do we have all votes?? Am I winning??
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TortureMeOnReplay

I feel like mental health startups are just bandaids on bullet holes. A lot of them are taking data from their clients unethically and the entire business is crooked imo because mental health shouldn't be for profit in the first place. On the surface it seems like a "we won't be successfully able to lobby for affordable healthcare but this is how we can help" when those startups are going to end up funneling their own profits into what they advocate against. 

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weed

Idk how I feel about it... ofc better mental health will help everyone, but literally reading "they wanted to capitalize on the mental health trend" like... a little sad

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Healed My Heart

Mental health is becoming too commercialized and trendy I'm afraid. I see PSA commercials all the time that are like "go to therapy!" and never address the lack of access or affordability of it. Even Dove body wash claims to have shower gels now that use adaptogens to "reduce anxiety." Like, come on. These aren't real solutions for mental health issues.

Idk, I would much rather see someone invest $100,000,000 into subsidizing education for people who want to become mental health professionals and subsidizing actual medical care for people who can't afford it. But that won't make rich people richer I guess.

Edited by Healed My Heart
She/her 💗💜💙
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KORG
1 hour ago, TortureMeOnReplay said:

I feel like mental health startups are just bandaids on bullet holes. A lot of them are taking data from their clients unethically and the entire business is crooked imo because mental health shouldn't be for profit in the first place. On the surface it seems like a "we won't be successfully able to lobby for affordable healthcare but this is how we can help" when those startups are going to end up funneling their own profits into what they advocate against. 

Theyre tax dodges, hun.

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LaLuna

Capitalizing on a "mental health trend".:patrizia:

As someone with mental health struggles this is painful and frustrating to read. It's not a "trend". It's a major issue, people suffer from mental illness now more than ever, and it can be debilitating. People need quality care and compassion, not for some greedy celebrities to make money off of them.

Edited by LaLuna
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Evan Peters

This just creates further stigma that mental healthcare is nothing more than a trend. Yikes on her part 

emma roberts is an abuser
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My Name Isnt Alice

This is good imo,

We're so far back with capitalism; stuck with the bottom part of Maslow's hierarchy of needs. We need to go up from the bodily needs to the needs of our psyche.

this is a small step for us 

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Mother of Puppies

Not sure how I feel about it since I don't know what the actual "product/app" whatever they plan looks like... and it seems like another way to make a ton of money. (don't wanna critizise it too soon though, maybe it can help people, I dunno)

 

One good thing is that finally the stigma around mental health becomes less and less and it's talked about more, but at the same time I do feel like "mental health issues" have become somewhat of a "trend to flex" with on apps like tiktok... like people use the word "anxiety" or "ocd" way too often and loosely. Anxiety is not just being a little nervous or scared before holding a presentation.

Edited by Mother of Puppies
You can call me Lady MOP
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holy scheisse

Idk why anybody would pay for a thing like this when they could follow any of the thousands of instagram mental health accounts that spit out a nauseating amount of self help guidance and tips for free lol. 

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