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Health care startup ZocDoc Inc. named Edward Liu, a previous
financial commitment banker, as its new chief economic officer as it seems to grow its business enterprise.
Mr. Liu served as co-head of technological innovation banking for the Americas at Morgan Stanley for about 5 decades just before joining ZocDoc on Monday. In his new function, he succeeds Netta Samroengraja, who was CFO of the New York-centered organization for 11 decades. She is relocating into a newly produced job of chief corporate growth officer, the business stated.
Mr. Liu during his tenure at Morgan Stanley encouraged a amount of tech and e-commerce firms on their general public listings, together with on-line pet-source retailer
in 2019. He also suggested application organization Pink Hat on its $34 billion sale
Intercontinental Business enterprise Devices Corp.
that similar calendar year. In 2015, he recommended ZocDoc on a funding spherical.
Mr. Liu joins ZocDoc, which will allow consumers to plan health care appointments on line, following it not too long ago overhauled its pricing model. It earlier billed practitioners a subscription price of $3,000 a year to use the system. Considering that January 2020, it has charged among $40 and $140 for every new affected person, in an exertion to increase its client base and appeal to smaller techniques.
ZocDoc adjusted its merchandise giving for the reason that of the pandemic, stated
the company’s founder and chief govt. The organization in April 2020 started letting people to book telehealth appointments. The following thirty day period, it launched a service that allows health care vendors to meet up with people working with the ZocDoc application.
“Now that which is in the rearview mirror for us, it’s now about scaling up and constructing for greatness,” explained Mr. Kharraz.
Mr. Kharraz declined to comment on no matter whether ZocDoc is exploring an preliminary community supplying, saying he is focused on creating the business. He also declined to say if the enterprise prepared to raise further cash.
ZocDoc in February gained $150 million via a financial debt-and-fairness financing from investment decision company Francisco Companions. That is in addition to $220 million in equity funding the enterprise earlier raised from buyers such as Khosla Ventures and Founders Fund, it explained.
Mr. Liu said his very first precedence in his new function will be to shell out time conference with his finance crew, senior management and the board. He also plans to aid the corporation set up expansion priorities now that it has a new pricing product in location, he mentioned. ZocDoc employs 650 persons, which include about 20 folks in finance.
Scott Eisenberg, an investor with Francisco Partners, praised Mr. Liu’s encounter advising other tech companies. “His mental library of what are most effective techniques for a financing organization—he’s just likely to be capable to roll them out,” Mr. Eisenberg explained.
Create to Kristin Broughton at [email protected]
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Appeared in the August 3, 2021, print edition as ‘ZocDoc CFO Hails From Morgan Stanley.’