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Exclusive: Sharecare's CEO On Why The Company Is 'WebMD 2.0'

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Exclusive: Sharecare's CEO On Why The Company Is 'WebMD 2.0'

Sharecare is set to go public via the special purpose acquisition company Falcon Capital Acquisition Corp (NASDAQ: FCAC) with an initial pro-forma enterprise value of $3.9 billion.

CEO Jeff Arnold, who previously founded WebMD, will continue to lead the digital health company as CEO and chairman. 

Arnold started Sharecare in 2012 as a "WebMD 2.0," he told Benzinga's "SPACs Attack" show Monday.  

The company will surpass $400 million in revenue in 2021 and is EBITDA and cash flow positive, Arnold said.

Sharecare has 6,000 clients, which ensures $100 million in revenue for the company, he said. Sharecare is highly diversified and backed by an impressive list of investors.

The company has a comprehensive platform that it sells to states, cities and employers, the CEO told Benzinga.

Sharecare became a leader in health security and worked with states to help roll out COVID-19 vaccines, Arnold said.  "Cybersecurity protects infrastructure against a virus. Health security is 'how do we protect people?'"

Sharecare is working closely with its partners to bring the best service to its clients, the CEO said. 

The FCAC Sharecare Merger: The merger is expected to close in the second quarter of 2021. Upon closing of the merger, Sharecare will be listed on the Nasdaq under ticker symbol "SHCR."

The company plans more acquisitions after the merger is complete. 

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