{"id":495435,"date":"2026-02-24T03:22:10","date_gmt":"2026-02-24T03:22:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/495435\/"},"modified":"2026-02-24T03:22:10","modified_gmt":"2026-02-24T03:22:10","slug":"aussie-workers-become-millionaires-in-an-instant-as-they-score-a-life-changing-share-in-start-up-companys-1-6billion-payday","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/495435\/","title":{"rendered":"Aussie workers become millionaires in an instant as they score a life-changing share in start-up company’s $1.6BILLION payday"},"content":{"rendered":"

More than 100 employees at an Australian start-up have become overnight millionaires after a US telehealth giant swooped in with a $1.6billion deal.\u00a0<\/p>\n

Eucalyptus offers Juniper and Pilot, which prescribe GLP-1s similar to Ozempic and Mounjaro, as well as a\u00a0fertility<\/a>\u00a0program and erectile dysfunction medication.\u00a0<\/p>\n

With an annual revenue run-rate above $637million, it has been acquired by US telehealth firm Hims & Hers, the company announced on Thursday.<\/p>\n

The company offers an employee share option plan, meaning more than 100 staff members were privy to a life-changing payday.\u00a0<\/p>\n

It is understood workers at the\u00a0Sydney<\/a> office on Clarence Street had a ‘raucous’ celebration after learning of the billion-dollar deal.\u00a0<\/p>\n

The value of their shares, excluding Eucalyptus’ co-founders, is estimated at about $300million in total, the Australian Financial Review<\/a> reported.<\/p>\n

As a result, the average Eucalyptus employee is expected to receive $420,000.\u00a0<\/p>\n

Former Eucalyptus chief commercial officer Joe Harris is understood to have pocketed more than $1million from the deal.\u00a0<\/p>\n

\"Some <\/p>\n

Some staff at Australian-start-up Eucalyptus are due to become millionaires after the company was acquired by US telehealth giant Hims & Hers for\u00a0$1.6billion on Thursday<\/p>\n

\"Chief <\/p>\n

Chief executive Tim Doyle (pictured) is due to receive\u00a0$163million in the deal<\/p>\n

‘It’s the peace of mind of knowing I’ve shifted the trajectory of my family’s life forever and have taken care of my future,’ the 29-year-old told the AFR on Monday.<\/p>\n

‘Now I can focus on building my company without having to think about the opportunity cost.’\u00a0<\/p>\n

Eucalyptus founder Tim Doyle, who will receive $163million in the deal, described the acquisition as a full circle moment.\u00a0<\/p>\n

The 35-year-old said his company drew inspiration for its telehealth model from Hims & Hers in the United States.<\/p>\n

‘By joining Hims & Hers, we will help more people globally believe in the future of healthcare,’ the chief executive wrote on LinkedIn.\u00a0<\/p>\n

He said Eucalyptus aimed to be ‘simple, high-quality, personal, and designed to help prevent disease, instead of merely treating it’.<\/p>\n

‘We’ve spent seven years helping customers around the world find the care that fits them,’ the 35-year-old added.\u00a0<\/p>\n

‘And we believe today’s news will be part of accelerating the movement towards affordable healthcare for everyone that feels like a luxury.’<\/p>\n

Join the debate<\/p>\n

Should everyday workers become millionaires when their company is sold, or does this fuel inequality?<\/p>\n

\"Thanks <\/p>\n

Thanks to an employee share option plan, the value of staff shares is estimated at about $300 million in total following the deal<\/p>\n

Mr Doyle will enter a new role as senior vice president of international business.\u00a0<\/p>\n

Eucalyptus, which has offices in Australia, the United Kingdom, Germany and Japan, is understood to serve more than 775,000 customers.<\/p>\n

Along with the large payday for employees, the company has prided itself on being a ‘friendly’ workplace, but has come under fire for setting staff ‘unreasonable’ targets.<\/p>\n

Anonymous staff from its Philippines office told the AFR <\/a>in January there had been multiple resignations, with staff reporting feeling exhausted by high targets.\u00a0<\/p>\n

They claimed Eucalyptus raised the number of customer queries each assistant should process to more than 65 a day to meet surging demand.<\/p>\n

‘Failing to meet these metrics could lead to escalation from management, particularly local management in the Philippines, and in some cases this created fear of termination,’ a former employee alleged.<\/p>\n

Another added: ‘I love the work and the purpose of my role, but in my team alone about 10 people resigned within a single month due to exhaustion, health concerns and a lack of balance.’\u00a0\u00a0<\/p>\n

A spokesperson for Eucalyptus told the Daily Mail the targets were set to match the needs of customers.<\/p>\n

‘All performance targets are set with a key focus on patient care, not volume,’ they said.<\/p>\n

‘New targets were set last year with increased requirements around quality of care, measured by patient satisfaction and our quality assurance auditing process.’<\/p>\n","protected":false},"excerpt":{"rendered":"More than 100 employees at an Australian start-up have become overnight millionaires after a US telehealth giant swooped…\n","protected":false},"author":2,"featured_media":495436,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[45,49,48,2093,137,44,2095,1856],"class_list":{"0":"post-495435","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-dailymail","12":"tag-entrepreneurship","13":"tag-news","14":"tag-ozempic","15":"tag-sydney"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/495435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=495435"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/495435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/495436"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=495435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=495435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=495435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}