This is this week’s Under 30 newsletter, which every Friday brings you the latest news on young risk-takers and rising stars. Click here to get it in your inbox!
Andrew Parker’s grandfather needed help, but he didn’t need a doctor. He needed someone to help him with groceries and take him to doctor appointments. “Who wants to be a pal to my Papa?” Parker wrote in a Facebook post. More than a quarter of the U.S. population—and 28% of seniors—live alone. Social isolation can have serious downstream effects to people’s health, such as raising the risk of heart disease or stroke, and it’s estimated to cost the federal government $6.7 billion a year.
Several years after that Facebook post, Parker, 33, is helping seniors and low-income families get access to companionship and help around the house as the cofounder and CEO of Papa—and it’s being reimbursed by insurers. On Thursday, the Miami-based company announced a $150 million Series D round led by SoftBank Vision Fund 2 that values Papa at $1.4 billion. Read more about healthcare’s latest (and perhaps strangest) unicorn that can provide “family on demand.”
This 26-Year-Old Founder Raised $30 Million To Cut Through The Red Tape Every Health Startup Hates
Medallion founder and CEO Derek Lo is using software to solve medical licensing and insurance enrollment issues, which are key to scaling and generating revenue.
This Week’s Money Moves
Aurora, a developer of autonomous cars and trucks, is now listed on Nasdaq after completing a merger with special purpose acquisition company (or SPAC) Reinvent Technology Partners Y. The deal secured $1.8 billion of funds, CEO Chris Urmson tells Forbes.
The decade-old registry platform Babylist, which also operates as an e-commerce and content hub for new parents, just announced a $40 million Series C funding round, led by Norwest Venture Partners.
Earlier this week, while Jeff Bezos was in Glasgow at the COP26 climate summit, he sold more than $2 billion worth of Amazon shares. The sale came as Bezos, the world’s second-richest person, promised in a speech at the summit that he will spend $2 billion from his Earth Fund on restoring nature and transforming food systems.
Sustainable shoemaker Allbirds raised more than $300 million in its initial public offering on Wednesday, with shares surging 91% on the first day of trading to give the company a valuation of $4.1 billion.
The Inside Scoop: How We Make The Under 30 List
November is the month where trendy kids bundle in vegan furs, mulling spices sell out everywhere and therapists anticipate holiday anxiety. But for those of us in the Forbes newsroom, November is—more than anything—Under 30 season.
The season technically started months ago with a slow and deliberate sourcing period. To make our Under 30 lists, we charge our beat reporters with sourcing the brightest and boldest young leaders from their respective universes, like Chloe Sorvino on food and Alex Konrad on venture capital. These reporters hound the internet, academic institutions, investors, blue-chip companies and alums to put forth the most promising under 30s.
Then, from thousands of hopefuls, the Under 30 reporting teams narrow the list to anywhere from 40 to 100 names. They do this by studying every aspect of a candidate—from their social media to financials to community impact. Ultimately, we prioritize founders, people with demonstrated success and individuals with amazing stories. This small pool of candidates gets sent to our expert judging panel. In the past, our judges have included Taylor Swift, Mark Cuban and Kehinde Wiley. However each year’s judges remain top secret until the list launches.
Then, after judging closes, the teams tabulate the scores and finalize the lists. That’s where we are at this very moment. Back when we worked out of our Jersey City office, Under 30 reporting teams would huddle around desks, calling Under 30 hopefuls and debating what it means to be an Under 30. Now that our office is remote, we’re busy Slacking away and collaborating on Google spreadsheets as we put the finishing touches on our lists.
And soon enough, it’ll be December 1: the day we publish the 2022 Forbes 30 Under 30. This year is set to be the most selective list to date due to a record number of nominations. Stay tuned for the full list of amazing individuals who’ll call themselves the Forbes 30 Under 30 in under a month.
Ten years ago, Forbes set out to create the inaugural 30 Under 30 list. One decade later, it’s now the definitive list of young people changing the world. Do you know someone creating the next Instagram, Stripe or Spotify? Nominate them (or yourself!) today.
Note: North America nominations have closed already. All other regions are open.
Join Forbes and Square for the 2021 Forbes Next 1000 Summit on Friday, November 12, at 11 a.m. EST to hear from some of the most successful business leaders and entrepreneurs like Sara Blakely, Reid Hoffman, Sheryl Sandberg and many more. This event promises to provide you with inspiration as we spotlight those that have been able to pivot, grow or launch their businesses during the pandemic. Register for free.