The subscription box company will begin collecting data from customers to send them personalized health and wellness products.
The subscription box company wants to collect more data to send personalized skincare, supplements and other products.A new healthcare startup is buying Birchbox for more than $45 million, with plans to revitalize the subscription box company by getting into personalized health and wellness products.
It’s a new twist for Birchbox and will see the departure of cofounder Katia Beauchamp as chief executive. She will sell her remaining interest in the company and become a strategic advisor. To power its recommendations, FemTec is spending $28 million to acquire tech startup Mira AI, which uses data and artificial intelligence to match a consumer’s attributes with beauty products and content they might find relevant. With Birchbox, for instance, it may take the results of a skin hydration test and recommend a facial lotion that is good for oily skin.
FemTec has plans outside of Birchbox, too. Next year, it will be launching a concierge-style telehealth platform called Awesome Woman, helping women navigate pregnancy, menopause and everything. Customers will have remote access to doctors, who can leverage data and technology to suggest various at-home tests and prescribe medications or make product recommendations based on the results.
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