Selena Gomez’s mental health start-up just celebrated a major milestone. A helping hand from another A-list celeb has Wondermind’s valuation topping out at $100 million.
Why Selena Gomez started Wondermind
Gomez has always had a history of advocating for mental health. She’s shared her own struggles with anxiety and depression over the years. In 2020, the actor revealed she’d received a bipolar disorder diagnosis. In 2022, the star launched Wondermind alongside her mom, Mandy Teefey, and friend and entrepreneur Daniella Pierson.
Wondermind is focused on “mental fitness” and provides users with content from mental health experts, as well as tools and resources — all free of charge.
According to Wondermind’s website, “It takes more than an inspirational quote to really change your mindset. Even if you see a therapist (which is amazing), you still need to work on yourself between sessions. (You wouldn’t expect physical fitness results seeing a trainer only once in a while, would you?) That’s what Wondermind is here for — to give you easy, doable ways to put your mental fitness first every single day.”
In an interview with Good Morning America, the former Disney Channel star shared, “We want to be that place where people feel comfortable to talk about the things under the hood. I really want people to be understood and seen and heard. It’s OK to not be OK.”
Serena Williams aided in Wondermind’s $100 million valuation
The platform has only grown since its launch. Bloomberg recently announced Wondermind has raised enough funds to have a valuation of $100 million. Gomez and her co-founders got a helping hand from another famous face when raising money.
Tennis star Serena Williams has started a venture fund that seeks to invest in up-and-coming businesses. Serena Ventures contributed to Wondermind’s early seed funding, pushing it to the $5 million mark. Early investors included Lightspeed Venture Partners and Sequoia Capital as well.
Retired from tennis to focus on her family and venture capital firm, Williams is also an advocate for mental health. The tennis star even has plans to be involved in the creation of Wondermind content, as well as promoting the platform.
What is Selena Gomez’s net worth?
Having her mental health start-up achieve such a high valuation will boost Gomez’s already-impressive net worth even higher. Celebrity Net Worth estimates the multi-talented star’s worth at $95 million.
This high net worth is due to her acting projects, including the Emmy-nominated Only Murders in the Building, her music career, social media earnings, and endorsement deals.
In 2017, Gomez signed a $30 million, two-year deal with Puma, making her the face of the athletic brand. The year before that, the star signed a $10 million endorsement deal with high-end purse brand Coach.
Gomez is also one of the most-followed people on Instagram. While she has cut down on her social media use these days, it’s estimated the star receives up to $800,000 per sponsored post.
While Gomez didn’t start Wondermind to make money, the company’s high valuation has made it clear that the star is already making a name for herself in the business world.
