The Big One

A breakdown on the day’s biggest Inno story.

Lucy: Walmart is reportedly in talks to buy Somerville-based PillPack in a move that, if confirmed, would position one of Amazon’s fiercest competitors a step ahead in the space of online pharmacy services.

Citing two sources familiar with the matter, CNBC reported that the Bentonville-based retail giant has been working for months on an acquisition deal with a price tag of “under $1B,” which would be a significant increase from PillPack’s reported valuation of $330M in September 2016.

“Both Walmart and Amazon, which are already locked in a fierce battle over e-commerce market share, have recently made major moves into the world of healthcare,” BBJ noted. “The Wall Street Journal reported last week that Walmart is considering an acquisition of insurer Humana Inc., which has a market valuation of nearly $39M. Meanwhile, Amazon announced in January that it would partner with J.P. Morgan and Berkshire Hathaway to form an independent healthcare company for their employees.”

Here’s a list of quick facts about PillPack, plus its recent moves:

1) Since its founding in 2013, medication delivery service PillPack has raised $118M from investors including Accel Partners, Atlas Venture, CRV, Founder Collective, Menlo Ventures and Sherpa Ventures, BBJ reported.

2) The company has more than 600 employees, with nearly 400 at its facility in Manchester, according to New Hampshire Union Leader. The story also noted that PillPack partnered with Aetna, which recently agreed to be acquired by CVS for $69B.

3) In November last year, PillPack added two figures from the political realm to its strategic advisory board: Jim Messina, who was President Obama’s 2012 campaign manager, and Dr. Lawrence H. Summers, who was U.S. Secretary of the Treasury under President Clinton.

4) In September last year, PillPack was among the three Massachusetts companies that earned a spot in the Forbes list of 25 young U.S. companies with a strong shot at reaching a valuation of $1B or more.

5) Remember which local startup has a vintage-style HQ with a full bar? That’s exactly right: PillPack! We visited the office in December 2016 as part of our Office Envy series.

In The Know

The Inno stories you need to read today.

Making Moves

Inside the people, companies and organizations making moves in Boston.

KG: Sparefoot Inc. acquired SiteLink Software last Thursday to strengthen their presence in the self-storage market. Why do you care about an M&A deal with two self-storage companies based outside of Boston? Well, Boston-based Cove Hill Partners now owns a majority of the combined company. Grab the whole story here [BBJ Paywall].

Lucy: Here’s the list of Boston M&A deals for March. The bigger highlights of the month are the shut down of Fasten, which closed its U.S. offices at the beginning of the month, and the acquisition of Kensho Technologies by S&P Global for $550M. Also, in March more details emerged about M&A deals that were announced in 2017 or earlier this year. Read more: BostInno Departed: Boston Startups That Were Acquired or Shut Down in March

KG: Spotted Media just raised a $4M round led by Schooner Capital. Rather than your typical funding roundup story, Spotted’s CEO Janet Comenos discussed her sales-driven approach to raising venture dollars. Step 1: Treat it like a sales process. Step 2: Don’t let them off the phone. Step 3: FOMO is your friend.

Lucy: She also urges more females to “understand that if you’re articulate and smart and passionate and have a decently good idea, you are going to be able to raise money.”

Player Personnel

Who’s moving where.

KG: Ian Lane notified Wayfair that he will not stand for re-election to the board of directors. Lane’s decision was not related to a disagreement with the Company over any of its operations, policies or practices, according to an SEC filing.

Lucy: Babson College’s Women Innovating Now Lab, also known as WIN Lab, has appointed Kara Miller as director. In 2015, Miller launched Women Entrepreneurs Boston (WE BOS), a City of Boston program designed to advance local women entrepreneurs.

In The Community

The events and happenings to know about tonight and this week.

KG: Esports lovers going to PAX East this weekend should also check out the College Esports Expo at Emerson’s Semel Theater. It’s free.

Lucy: Also, we want you to have LiveWorx Mix @ 6 on your radar for June 19th at Lawn on D. Tickets are only $40. For more event planning, check out the April edition of BostInno Approved. Read more: BostInno Approved: April’s Top Tech & Startup Events in Boston

Random

The fun stuff.

KG: Do you know Boston’s twin cities? The New York Times just released a tool to figure out your city’s twin based on “their job mix, which reflects both local advantages and history (coal, a port, great universities) and local demand (a young population that needs teachers, or an older population that needs nurses).” Metros most similar to Boston are NYC, Philadelphia, Chicago, SF and San Diego….