Doximity CEO ignored Silicon Valley wisdom and built a $10 billion health-tech company

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Doximity CEO Jeff Tangney became the latest tech billionaire this week after taking Doximity public on the New York Stock Exchange.

Tangney also turned to Lee as a sounding board and advisor. At One Medical, Lee had the perfect test audience for Tangney: A growing base of doctors who were enthusiastic about technology.

"Recruiting doctors is not a well-defined profession and had been done poorly," said Lee, who's now founder and CEO of health company Galileo. "A doctor receives a lot of job opportunities. In classic medical marketing, you'd get these glossy photos of opportunities that were completely outdated, showing glorious pictures of suburban communities and symphony life and fishing.

Buck said Tangney is known for carrying around little notebooks that he diligently fills up cover to cover over the two days. "They felt like they had a hand in co-creating this thing Doximity was building," said Spain, whose firm owns a $1.35 billionSome of those doctors ultimately made good money from the IPO. Doximity allocated up to 3.5 million shares to doctors on the platform, representing 15% of the offering. After Doximity's stock price jumped 115% in its first two days, the value of shares owned by doctors climbed from $91 million to over $195 million.

 

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