Unwell's $500M Valuation.
Alex Cooper's Unwell Secures WTSL Investment, Valuing Media Company at $500 Million.
Key Points
Unwell has been profitable since day one, according to Alex Cooper.
WTSL was formed in 2024 under Patrick Whitesell with backing from Silver Lake, and its portfolio includes Omaha Productions, Diamond Baseball Holdings, and League One Volleyball.
Cooper’s team has additional production credentials, including a Hulu documentary and live Olympic programming from Paris for Peacock.
Vanity Fair’s investigation described workplace toxicity with input from more than 40 current and former Unwell staff, which Cooper has pushed back against.
Cooper says 70 million women per month tune into Unwell, highlighting the brand’s reach as a foundation for scaling across fronts.
Alex Cooper and Matt Kaplan's media company Unwell has landed its first outside investment, coming in at a $500 million pre-money valuation, according to The Wrap and Deadline. The deal comes from Patrick Whitesell's firm WTSL, though the exact dollar amount of the investment was not disclosed.
Cooper says Unwell reaches 70 million women per month. She called the investment a validation of the brand's loyal audience and a platform for scaling fast. Cooper and Kaplan retain majority ownership of the company.
WTSL Brings Silver Lake Money and Sports Muscle
WTSL was formed in 2024 by Patrick Whitesell with backing from private equity giant Silver Lake, according to Deadline. Its portfolio includes Omaha Productions, Diamond Baseball Holdings, and League One Volleyball. Whitesell has pointed to those relationships and that strategic experience as key assets for Unwell's next phase.
Whitesell's firm focuses on media, entertainment, and sports — a mix that fits Unwell's expansion plans. Cooper has framed the partnership as more than money. She sees WTSL's industry connections as a tool to break into new markets quickly.
Unwell Pushes Beyond Podcasts Into Film, Products, and Live Events
Unwell's growth plan goes well beyond audio. The company is expanding into film, television, live events, and consumer products, including a beverage line with Nestlé, according to The Wrap. Unwell also launched an advertising agency in partnership with Google. The new investment is meant to speed up acquisitions and fund new deals.
The company already has a SiriusXM distribution deal that reportedly pays more than $30 million per year. Cooper's team also has production credits including a Hulu documentary and live Olympic coverage from Paris for Peacock. Cooper says Unwell has been profitable since day one.
Vanity Fair Investigation Shadows the Funding Milestone
The investment news arrives alongside public scrutiny. A Vanity Fair investigation drew on more than 40 current and former Unwell staff to describe workplace toxicity and erratic conduct at the company, according to The Wrap. The report raised questions about talent retention and the strength of future partnerships.
Cooper has pushed back against the Vanity Fair piece. She has disputed the picture it painted of her company's culture. Reputational pressure from the story could still affect investor confidence and future deals, even as Unwell celebrates its biggest funding milestone yet.
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