Theranos was an American privately held corporation which was touted as a breakthrough health technology company, with claims of having devised blood tests that required only very small amounts of blood and could be performed very rapidly using small automated devices the company had developed. However, these claims were later proven to be false.
Founded in 2003 by 19-year-old Elizabeth Holmes, Theranos raised more than $700 million USD from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014.
What’s Theranos?
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