How Silk Road Medical Is Driving a $100M Investment for the Silk Road Network
Posted On August 7, 2021
The medical-tech startup Silk Road launched in late 2013, promising a new form of online commerce that would make it possible for people to pay for medical services without using a bank account or credit card.
Since its launch, the company has attracted a lot of attention from regulators and law enforcement agencies alike, but as the company continues to grow, so has the amount of money being invested in the company by its investors.
Today, Silk Road’s valuation is approaching $100 million, according to Forbes.
The company is a $1 billion business with a valuation of $8.6 billion, according the most recent valuation.
Silk Road has raised more than $2.2 billion in venture capital investments, according a Forbes report from last year.
At its peak, Silk the drug marketplace was worth more than a billion dollars, but today, the market value of the company is closer to $1.2 million, the report found.
Silk the site that was originally supposed to be closed down in early 2016 has been running for more than six months and is estimated to have $3.6 million in annual revenue.
That’s more than double the amount that the company raised in its initial funding round, which is $2 million.
The business was started by Ross Ulbricht, who was sentenced to life in prison in February 2018.
The FBI’s investigation into Silk Road began when the company was founded and ran by the same person who was arrested and charged in the Silk Route bust.
Ulbrich was arrested in 2013 after an investigation into the drug-trafficking operation.
The site was shut down for a time, but eventually reopened in August 2018.
Ulthbericht is the owner of the Silkroad website and it has been used by people from around the world to buy drugs and other illegal goods.
Ulbristah was sentenced in 2018 to life imprisonment.
Silk was shuttered after he was arrested, but was restarted a few months later.
Ulkert was sentenced last month to life plus 20 years for conspiracy to commit money laundering, making illegal payments, and possessing and trafficking cocaine and marijuana.
Ulrristah’s case has been a lightning rod for scrutiny by law enforcement, and there have been multiple public comments and calls for his release from the White House.
Earlier this year, President Donald Trump said that he was considering whether to release Ulkristah to serve time in a federal prison in Florida.
But Ulkrest said in a statement after the White and House announcements that he will “continue to fight the prosecution for his role in the illegal and corrupt operation of Silk Road.”