Amwell (American Well)
- 🦄Became a unicorn2020
- 📈Peak valuation$4 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$280M
How it happened
Amwell (American Well) is a telehealth platform connecting patients with doctors, and it was a marquee pandemic IPO — going public in September 2020 at roughly a $4B market value, with Google among its investors. As in-person care returned and competition from Teladoc and others intensified, growth stalled and losses mounted. The stock fell about 93%, and in 2024 Amwell ran a 1-for-20 reverse split to stay above the NYSE's minimum price. Glassdoor reviews through the slide repeatedly flagged the company's two-CEO structure as unwieldy, layoff rounds employees came to expect almost yearly, and repeated cuts that pitted colleagues against one another to keep their jobs rather than collaborate, amid constant re-orgs and shifting strategy.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: stockanalysis / companiesmarketcap / Investing.com (~$3.96B market cap at Sept 2020 IPO, peaked higher early 2021; ~$88-300M market cap by 2026; 1-for-20 reverse split July 2024)
