Public (NYSE: AMWL); did a 1-for-20 reverse split (2024) to keep its NYSE listing
The rise & fall
7 moments · 2006–2024
The key moments, with employee sentiment along the way.
2006
🌱
2006
Founded by the Schoenberg brothers
Ido and Roy Schoenberg start American Well to put doctor visits online.
Wikipedia
Sep 2020
🦄
Sep 2020
A marquee pandemic IPO
Lists on the NYSE at roughly $4B, with Google among the investors.
CNBC
2021
📈
2021
The peak: ~$4B$4B
The stock tops out early in the year with telehealth still riding lockdown demand.
stockanalysis
2021–22
2021–22
The telehealth boom fades
In-person care returns, Teladoc-league competition intensifies, and losses mount.
CNBC
2022
💔
2022
Slips out of the club
Stalled growth drags the market cap below $1B.
stockanalysis
2022–24
💬
From the inside · Glassdoor reviews, 2022–24
Glassdoor reviews through the slide repeatedly flagged the dual-CEO structure as unwieldy, described layoff rounds employees came to expect almost yearly, and said repeated cuts set colleagues competing to keep their jobs rather than collaborating, amid constant re-orgs and shifting strategy.
Jul 2024
Jul 2024
A 1-for-20 reverse split
Amwell reverse-splits to keep its share price above the NYSE minimum.
Investing.com
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
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.
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)
