Alex Cooper's Unwell valued at $500m after first outside investment (update)*

Alex Cooper and Matt Kaplan's media company Unwell has been valued at $500 million after securing its first outside investment.

WTSL, the investment firm founded by former WME executive chairman Patrick Whitesell, has invested an undisclosed amount in the company, with Cooper and Kaplan retaining a majority stake.

Founded in 2023 and initially self-funded by the couple, Unwell has grown from a business built around Cooper's Call Her Daddy podcast into a wider media company spanning podcasts, television, YouTube, live events and consumer products. The company said it has been profitable since launch and now reaches 70 million women each month.

"We're scaling on all fronts, combining nimbleness, social-first premium content, and our understanding of culture to serve this highly influential audience," Cooper said in a statement.

She added that the investment would allow Unwell to accelerate its growth through acquisitions and investments.

The deal comes as Unwell pushes further beyond podcasting. Cooper and Kaplan are producing an adaptation of BookTok hit Icebreaker for Netflix, while the company has also struck a long-term partnership with Google that includes producing content using its Pixel devices.

Its wider entertainment slate includes projects with Disney+, Peacock and Hulu, alongside a growing portfolio of YouTube-native programming and further projects in development with major streamers.

Unwell launched its beverage brand, Unwell Hydration, in 2025 through a partnership with Nestlé, later expanding into protein and energy drinks sold at Target. The brand is now shutting down, Bloomberg reported on 14 August, with production set to end this fall following a final run of Halloween-themed flavours. Target, its main retail partner, will continue selling its remaining stock.

*This article was updated 16 August, following news of the shutdown of Unwell's beverage line.