People are flocking to sextech startups ahead of the 'hot vax summer.' VCs are taking note.

0
21

Hello!

Welcome to this weekly roundup of stories from Insider’s Business co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.

What we’re going over today:

What’s trending this morning:

Sextech startups are booming

As Americans prepare for a “hot vax summer,” people are flocking to sextech startups for all things sexual wellness. We spoke with five startups that said they’re seeing consumer spending habits change already – and that VCs are also getting in on the fun:

The pandemic made getting it on more difficult for everyone.

But now that half of American adults have had at least one dose of the vaccine, that could spell the end of a year of celibacy for many. Some are turning to sexual health and wellness startups to have more titillating and safe sex in the summer of love, startup founders and investors say.

The next several months could be boom times for companies in “sextech” and other sexual wellness businesses, from direct-to-consumer lingerie to birth-control delivery.

More on the red-hot sextech market:

Also read:

Goldman Sachs’ CEO is changing the bank’s DNA

David Solomon, who took over as Goldman’s CEO in October 2018, has steered the bank to blowout profits and a record stock price. But with partners quitting and burnout soaring, some insiders say the executive’s hard-charging style has come at a cost:

“David reviews businesses with a dispassionate, clinical eye,” said Jim Esposito, the cohead of Goldman’s investment banking division. “There are no sacred cows.”

On paper, it’s working spectacularly. Goldman smashed analysts’ expectations and set a revenue record in the first quarter, its stock soared to an all-time high of more than $356, and its ambitious plan to slash $1.3 billion in costs is on track. Wall Street analysts are singing Solomon’s praises, as are investors