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ZocDoc Appoints Morgan Stanley Investment Banker as CFO

Medical startup ZocDoc Inc.Is the original

Morgan Stanley

Investment Banker, New Chief Financial Officer Aiming to Grow Your Business.

Prior to joining ZocDoc on Monday, Liu was co-head of technology banking in the Americas at Morgan Stanley for about five years. His new role will replace Netta Samroengraja, who served as CFO of a New York-based company for 11 years. The company said she has moved to the role of the newly created CEO.

During his tenure at Morgan Stanley, Liu advised many tech and e-commerce companies on the public list. Online pet supplies store

Chewy Ltd

He also went to software company Red Hat $ 34 billion sale

International business machine Ltd

That same year. In 2015, he advised ZocDoc on a funding round.

After a recent review of the pricing model, Liu will join ZocDoc, which will allow consumers to schedule medical appointments online. Previously, we charged practitioners a $ 3,000 annual subscription fee to use the platform. Since January 2020, we have been charging $ 40 to $ 140 per new patient to expand our customer base and attract smaller clinics.

ZocDoc has coordinated product offerings for the pandemic, said Oliver Kharraz, the company’s founder and chief executive officer. In April 2020, the company began allowing consumers to book telemedicine. The following month, we launched a service that allows healthcare providers to meet patients using the ZocDoc app.

“It’s in our rearview mirror, so now it’s time to scale up and build something great,” Kharraz said.

Edward Liu, ZocDoc’s new CFO.


Photo:

Chris Bentley

Kharraz declined to comment on whether ZocDoc is considering going public and said it is focusing on setting up the company. He also did not say whether the company plans to raise additional capital.

In February, ZocDoc received $ 150 million in debt and equity financing from investment firm Francisco Partners. That’s in addition to the $ 220 million equity funding previously raised by investors such as Khosla Ventures and Founders Fund.

Liu said his top priority in his new role was to spend time meeting with his finance team, senior management and the board of directors. He also said he plans to help the company establish growth priorities now that new pricing models have been introduced. ZocDoc employs 650 people, including about 20 treasurers.

Scott Eisenberg, an investor in Francisco Partners, praised Liu’s experience in advising other technology companies. “An intellectual library of his financial institution’s best practices. He will be able to deploy them,” Eisenberg said.

Write to Christine Broughton Kristin.Broughton@wsj.com

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ZocDoc Appoints Morgan Stanley Investment Banker as CFO

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