Hearing aid startup Eargo is slashing prices by following the Warby Parker sales model
When Eargo CEO Christian Gormsen was approached by the venture capital arm of Danish pharmaceutical giant Novo Nordisk in 2013 to join a fledgling startup making hearing aids, he says he told them, “I’ve seen all the startup attempts in the hearing aid space, and frankly none of them have been worth the paper that the business plan was written on.
Then he was shown the prototype made by Eargo’s cofounders, Daniel Shen, Florent Michel and Raphael Michel. He was impressed with what they had built. By 2014, Gormsen says, he’d joined as a board member, and by 2016 he’d decided to come on as CEO. Gormsen says Eargo has sold hearing aids to over 20,000 people since launching commercially in 2017.
The Food & Drug Administration estimates that some 37.5 million people over 18 in the U.S. need a hearing aid, and the World Health Organization estimates that some 466 million need them around the world and 900 million will require them by 2050. For the past several decades, the market has been dominated by six big manufacturers: Starkey Hearing Technologies, GN Store Nord, Sonova, Sivantos, William Demant and Widex. They often sell their hearing aids to middlemen, that is, audiologists, who test patients’ hearing and fit them with hearing aids patients in a brick-and-mortar store. The average cost of a hearing aid is $2,300, according to a 2015 report from the President’s Council of Advisors on Science and Technology.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Tesla's China-made Model 3 may be priced in $43,400-$50,700 range: BloombergTesla Inc is considering pricing its China-manufactured Model 3 vehicles between...
Lire la suite »
South Africa slashes cabinet size, appoints 50% womenSouth African President Cyril Ramaphosa cut cabinet ministers from 36 to 28 to tackle 'bloated' government and improve efficiency while appointing more women in cabinet to achieve gender diversity.
Lire la suite »
Disaster aid bill worth $19.1 billion blocked again in HouseThe U.S. House of Representatives on Tuesday failed again to pass a $19.1 billion disaster aid bill supported by President Donald Trump after a Republican lawmaker objected to the measure. Following Senate passage of the legislation last Thursday by a vote of 85-8, House Democratic leaders had hoped
Lire la suite »
Disaster aid bill worth $19.1 billion blocked again in HouseThe U.S. House of Representatives on Tuesday failed again to pass a $19.1 billio...
Lire la suite »
House fails to pass disaster aid bill after second GOP lawmaker objectsFor the second time in less than a week, the House on Tuesday failed to pass the Senate-passed $19 billion disaster aid bill after a lone Republican objected to the measure.
Lire la suite »
Another Republican blocked billions in disaster aid in what a top Democrat described as a 'tantrum'GOP Congressman Thomas Massie says he objected in order to 'stop legislative malpractice.'
Lire la suite »
Disaster aid bill again blocked in House by GOP conservativeWASHINGTON (AP) — A second conservative Republican on Tuesday blocked another attempt to pass a long-overdue $19 billion disaster aid bill, delaying again a top priority for some of President Donald Trump's most loyal allies on Capitol Hill.
Lire la suite »
From Botox To Boeing: Korean Start-Up Air Premia Plans To Fly Seoul-Los AngelesFunded by the founder of botulinum toxin maker Hugel, Air Premia is pursuing a hybrid business model to fly Boeing 787 Dreamliners around Asia and to Los Angeles. Meals and checked baggage will be included on even the cheapest fares, and legroom will be more generous than on existing airlines.
Lire la suite »