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Holmes also began to speak with a deeper voice. She hired Apple designers for the product design of the laboratory’s “Edison” device and she soon appeared wearing only black turtlenecks. Holmes is said to have worshipped and emulated Apple founder Steve Jobs. Although Holmes entered the limelight in 2013 and quickly turned into a media star, the aura of mystery surrounding Theranos would persist until the company’s fall. Initially, the company operated in “stealth mode” without a corporate website or press releases. Robertson put Holmes in touch with venture capitalists and she had raised $6 million in capital by the end of 2004. She convinced her Stanford professor, Channing Robertson, of her idea and recruited him as the first board member. Holmes’ business idea promised billions in sales.Īfter dropping out of Stanford, Holmes used the money her parents had saved for her education as seed money for Theranos. In doing so, the company would have challenged US market leaders such as Labcorp and Quest Diagnostics, who use tubes of blood for tests while the results take several days. Patients would benefit not just from a less painful procedure but also from cheaper tests which can currently prove expensive under the American health system. Theranos promised to make blood tests easier, faster and cheaper. Samples were taken with a specially designed blood collection pen (similar to the way diabetics measure blood sugar levels) and analysed in the company’s specially developed mini-laboratory device called “Edison”. Instead, just a few drops should be enough to look for markers of cholesterol, diabetes, cancer and a range of other diseased.
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She even filed the necessary for paperwork to acquire a patent.Ī short time later, this gave rise to the business idea of Theranos whereby patients should no longer be required to hand over several tubes full of blood for blood testing.
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