In their article ‘Groupon Made Eric Lefkofsky A Billionaire-His Cancer-Fighting Startup Is Worth Far More’ Forbes Magazine’s staff writers Noah Kirsch and Michela Tindera argue that Eric Lefkofsky, with Tempus Labs, his latest startup has surpassed the success of Groupon, the company that made him a billionaire.
Kirsch and Tindera have followed Lefkofsky’s career, noting that he started several data collecting companies before Tempus, the most profitable being Groupon.
Tempus gathers and generates data to help oncologists target cancer treatment for better patient outcome. The model may be adapted to other conditions in the future.
Although the newly minted Tempus faces challenges from competition from other data companies and the high cost of sequencing, it’s $3.1 billion valuation reflectes investor confidence in its future.
According to Kirsch and Tindera, Lefkofsky was entrepreneurial since his college days at the University of Michigan where he founded many companies. Before Tempus, his biggest success was Groupon, which he co-founded and which generated $1.6 in revenue in its third year.
Lefkofsky’s wife Liz’s breast cancer diagnosis was the catalyst for the start of Tempus when he was discouraged by both the lack of pertinent data and the reluctance of firms to share theirs.
Two years ago Tempus acquired one million patient records from the American Society of Clinical Oncology and soon more oncologists followed, sending records and biopsies for analysis and genome sequencing.
Kirsch and Tindera write that last year, Tempus competition increased when Roche bought a data firm and genome sequencing firm and a new startup
They observed that while some doctors who prefer lighter work are overwhelmed by the large volume of data that Tempus provides, some have joined the company in research.
Kirsch and Tindera observe that despite current challenges, Lefkofsky has an auspicious view of the future, having decided that his career choices to date have brought him to his present position. He would like to be remembered for his work in Tempus Labs. Read more about Eric Lefkofsky: https://newsblaze.com/business/latest-business/eric-lefkofsky-about-tempus-at-bloombergs-the-year-ahead-summit_146430/