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WebMD history
WebMD company history timeline
Long took over as Healtheon's CEO in July 1997 and soon convinced Clark to lead the company in a new direction.
A Matt Damon look-alike, Arnold had founded the medical news portal WebMD in 1998, at the age of 28, and built it through a series of acquisitions into a $1 billion revenue company.
When the Healtheon and WebMD $7 billion merger was consummated in November 1999 it included two smaller companies: Mede America and Greenberg News Networks.
After just a year, Arnold had lined up $720 million in long-term commitments from such companies as DuPont and CNN. During an Easter weekend vacation in 1999 Arnold and board member Boland Jones decided to cold call Microsoft and suggest a partnership.
In 1999 WebMD was one of the top ranked Internet stocks on the market, trading at an eye popping $126 per share.
In mid-2000 the company began to reorganize and cost-cutting measures were implemented.
2000: Clark and WebMD's founder Jeffrey T. Arnold resign from the board to pursue other interests.
These numbers are somewhat worse than the 2000 fiscal year that saw the company post a nearly $3.1 billion loss on $517.2 million in revenues.
Online health companies collapsed in 2000 because physicians were not enticed to enter the world of e-mail and browsers to conduct business with the expensive tools that were developed.
In the year 2000, the company terminated more than 1,000 employees as part of the restructuring effort.
In 2001 WebMD Corp. posted $6,684.3 million in losses on $706.6 million in revenues.
In early 2001, CEO Mike Long also ended his tenure with the organization and was replaced at the helm by Martin Wygood.
Company officials are claiming that they will be able to show positive operating income before the end of 2002.
2003: Company becomes marginally profitable for first time.
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WebMD competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Everyday Health | 2002 | $254.0M | 520 | 23 |
| Johnson & Johnson | 1886 | $88.8B | 134,500 | 1,507 |
| American Medical Association | 1847 | $40.0M | 1,745 | 261 |
| Amgen | 1980 | $33.4B | 22,000 | 554 |
| The Leukemia & Lymphoma Society | 1949 | $345.3M | 2,370 | - |
| Gilead Sciences | 1987 | $28.8B | 11,800 | 596 |
| Merck | 1891 | $64.2B | 74,000 | 1,701 |
| Seagen | 1997 | $2.0B | 900 | - |
| American Academy of Dermatology | 1938 | $38.3M | 341 | 1 |
| Baxter International | 1931 | $10.6B | 48,000 | 166 |
WebMD history FAQs
Zippia gives an in-depth look into the details of WebMD, including salaries, political affiliations, employee data, and more, in order to inform job seekers about WebMD. The employee data is based on information from people who have self-reported their past or current employments at WebMD. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by WebMD. The data presented on this page does not represent the view of WebMD and its employees or that of Zippia.
WebMD may also be known as or be related to WEBMD HEALTH CORP., WebMD, WebMD LLC, WebMD LLC. and Webmd.