Talkspace

Last updated
Talkspace
TypePrivate (2012-21)
Public (since 2021)
Nasdaq:  TALK
Industry Psychotherapy
Founded2012
FoundersOren Frank
Roni Frank
Headquarters New York City, New York, U.S.
Area served
Worldwide
Key people
Douglas Braunstein (interim CEO) [1]
ServicesOnline therapy
Unlimited Messaging Therapy
Website www.talkspace.com OOjs UI icon edit-ltr-progressive.svg

Talkspace is an online and mobile therapy company based in New York City. It was founded by Oren and Roni Frank in 2012. [2] Talkspace users have access to licensed therapists through the website or mobile app on iOS and Android. [3] [4] Talkspace has been criticized for making questionable claims about its effectiveness, [5] compromised user privacy, [6] posted fake reviews to improve its rating in an app store, [6] and uses freelance therapists of uncertain qualifications. [7]

Contents

History

Talkspace was founded in 2012 by Roni and Oren Frank. [8] The company was conceived after a transformative experience in couples therapy that saved their marriage. [9] The results of psychotherapy were so meaningful for Roni Frank that, wanting to share it with others, she chose to pursue a master's degree in psychoanalysis and psychotherapy. [10]

Talkspace began as a group therapy platform, but has evolved to a company offering online psychotherapy from licensed therapists. [11] Talkspace introduced Unlimited Messaging Therapy in 2014, providing users text messaging with a therapist on the Talkspace website or mobile app. [12] Clients and therapists can also send audio and video messages on the platform or schedule live video sessions. [13] [14]

In February 2015, the therapy platform was expanded to include couples therapy. [15] As of July 2016, real-time voice and video calls are available during therapy sessions. [16]

In May 2015, Talkspace raised $9.5 million from Spark Capital and SoftBank. [17] In June 2016, the company raised $15 million from Norwest Venture Partners. [18]

In addition to reporting on a nationwide uptick in demand for psychotherapy, Talkspace saw requests for therapy appointments triple in the wake of the 2016 presidential election, with increases seen across demographic groups, but were particularly high for minorities. [19] According to a study conducted in partnership with HealthMap researchers at Boston Children's Hospital, a quarter of Talkspace users polled reported feeling “very stressed.” [20] In 2018, Talkspace hired Neil Leibowitz, MD, JD, as its Chief Medical Officer. [21]

In September 2017, the company raised $31 million from a Series C round led by Qumra Capital. [22] In August 2019, the company raised $50 million Series D funding and entered into a partnership with Optum. [23]

Talkspace saw a significant uptick in demand for psychotherapy during the COVID-19 pandemic, attributed to both the increased emotional toll of the pandemic and the restrictions put in place on people's physical movements. [24] [25] The company offered a free month of online therapy services to medical workers during the pandemic. [26]

In May 2020, Cigna added Talkspace virtual therapy services to the company's telehealth offerings. [27]

In November 2021, the Chief Operating Officer, CEO, and head of clinical services all resigned within a span of weeks. The company disclosed that some of the resignations were in connection to an offsite company events. Shareholder rights law firms announced investigations that the company's former leadership violated securities law. [1]

Product

Talkspace provides psychotherapy via smartphone, tablet, or desktop where users over the age of 13 can get help from a licensed therapist. [27] [28] Talkspace is a monthly subscriptions service with prices starting at US$260 per month. [24] The platform allows users to communicate with their therapist via video, audio, and text messaging. [29] Depending on the plan, users may also have access to a number of 30-minute video conference session per month. [30]

Based on initial information provided, clients are paired with a psychotherapist by an intake specialist or can select one from several suggested by a matching algorithm. [31] Therapeutic approaches offered by therapists include Cognitive Behavioral Therapy (CBT) and other evidence-based treatment options. [32] Talkspace has grown to include over 1.5 million clients and includes therapists in all 50 states. [33] [34] The company uses machine learning and artificial intelligence tools to analyze anonymized transcripts of therapy sessions in order to improve services. [35]

Talkspace is also HIPAA BAA compliant and uses encryption to maintain client confidentiality. [36] All therapists are licensed and screening involves background-checks, technical training, and clinical interviews. [37]

Lawsuit

Following the resignation of its senior leadership team in 2021, a class action lawsuit alleging securities fraud was filed. The suit claimed that the company failed to disclose its declining user base and overvalued its accounts. [38]

Criticism

Psychologist Todd Essig has criticized Talkspace in four different articles for conflicting business and clinical interests, [5] making scientific claims about its effectiveness, [39] violating patient confidentiality, [40] and other issues. [41] In December, 2016, it was reported that Talkspace used faulty psychological practices, psychologists of uncertain qualifications, and a lack of regard for patient safety and confidentiality. [7]

In 2018, the Psychotherapy Action Network (a therapist's advocacy organization) wrote a letter to the American Psychological Association and Michael Phelps calling attention to alleged concerns with the product. In response to the letter, the APA updated their policies to bar Talkspace from exhibiting at their conferences. [42] Talkspace later filed a $40 million defamation lawsuit against the Psychotherapy Action Network. The lawsuit was dismissed in 2020. [43]

In April 2020, The New York Times published an article where they cited Talkspace employees had read transcripts from therapy sessions and that employees were instructed by the company to post fake app store reviews using burner phones. [6] The piece also detailed the experiences of Ricardo Lori, an employee that used the service, who was persuaded by a Talkspace executive to anonymously share his therapy chat logs for a company presentation but Lori soon discovered his identity was revealed. [42]

See also

Related Research Articles

Psychotherapy is the use of psychological methods, particularly when based on regular personal interaction, to help a person change behavior, increase happiness, and overcome problems. Psychotherapy aims to improve an individual's well-being and mental health, to resolve or mitigate troublesome behaviors, beliefs, compulsions, thoughts, or emotions, and to improve relationships and social skills. Numerous types of psychotherapy have been designed either for individual adults, families, or children and adolescents. Certain types of psychotherapy are considered evidence-based for treating some diagnosed mental disorders; other types have been criticized as pseudoscience.

<span class="mw-page-title-main">Instant messaging</span> Form of communication over the internet

Instant messaging (IM) technology is a type of online chat allowing real-time text transmission over the Internet or another computer network. Messages are typically transmitted between two or more parties, when each user inputs text and triggers a transmission to the recipient(s), who are all connected on a common network. It differs from email in that conversations over instant messaging happen in real-time. Most modern IM applications use push technology and also add other features such as emojis, file transfer, chatbots, voice over IP, or video chat capabilities.

<span class="mw-page-title-main">Skype for Business</span> Enterprise instant messaging and video conferencing software by Microsoft

Skype for Business is an enterprise software application for instant messaging and videotelephony developed by Microsoft as part of the Microsoft 365 suite. It is designed for use with the on-premises Skype for Business Server software, and a software as a service version offered as part of 365. It supports text, audio, and video chat, and integrates with Microsoft 365 components such as Exchange and SharePoint.

Online counseling is a form of professional mental health counseling that is generally performed through the internet. Computer aided technologies are used by the trained professional counselors and individuals seeking counseling services to communicate rather than conventional face-to-face interactions. Online counseling is also referred to as teletherapy, e-therapy, cyber therapy, or web counseling. Services are typically offered via email, real-time chat, and video conferencing. Some clients use online counseling in conjunction with traditional psychotherapy, or nutritional counseling. An increasing number of clients are using online counseling as a replacement for office visits.

<span class="mw-page-title-main">Paltalk</span> Video group chat service

Paltalk is a proprietary video group chat service that enables users to communicate by video, Internet chat, or voice. It offers chat rooms and the ability for users to create their own public virtual chat room. Paltalk Desktop is available on macOS and Windows, and Paltalk Video Chat App is available for Android and iOS. While basic services are free of charge and basic software is free to download, fee-based memberships and paid upgrades to more capable versions are offered by AVM Software, the creators of Paltalk.

Kik Messenger, commonly called Kik, is a freeware instant messaging mobile app from the Canadian company Kik Interactive, available on iOS and Android operating systems.

<span class="mw-page-title-main">WhatsApp</span> Messaging and VoIP service owned by Meta Platforms

WhatsApp is a freeware, cross-platform, centralized instant messaging (IM) and voice-over-IP (VoIP) service owned by United States tech conglomerate Meta Platforms. It allows users to send text, voice messages and video messages, make voice and video calls, and share images, documents, user locations, and other content. WhatsApp's client application runs on mobile devices, and can be accessed from computers. The service requires a cellular mobile telephone number to sign up. In January 2018, WhatsApp released a standalone business app called WhatsApp Business which can communicate with the standard WhatsApp client.

GroupMe is a mobile group messaging app owned by Microsoft. It was launched in May 2010 by the private company GroupMe. In August 2011, GroupMe delivered over 100 million messages each month and by June 2012, that number jumped to 550 million. In 2013, GroupMe had over 12 million registered users.

Viber, or Rakuten Viber, is a cross-platform voice over IP (VoIP) and instant messaging (IM) software application owned by Japanese multinational company Rakuten, provided as freeware for the Google Android, iOS, Microsoft Windows, Apple macOS and Linux platforms. Users are registered and identified through a cellular telephone number, although the service is accessible on desktop platforms without needing mobile connectivity. In addition to instant messaging it allows users to exchange media such as images and video records, and also provides a paid international landline and mobile calling service called Viber Out. As of 2018, there are over a billion registered users on the network.

WeChat or Weixin in Chinese ; lit. 'micro-message') is a Chinese instant messaging, social media, and mobile payment app developed by Tencent. First released in 2011, it became the world's largest standalone mobile app in 2018 with over 1 billion monthly active users. WeChat has been described as China's "app for everything" and a super-app because of its wide range of functions. WeChat provides text messaging, hold-to-talk voice messaging, broadcast (one-to-many) messaging, video conferencing, video games, mobile payment, sharing of photographs and videos and location sharing.

<span class="mw-page-title-main">Line (software)</span> Freeware instant communications app

Line, stylised as LINE, is a freeware app for instant communications on electronic devices opereated by LY Corporation. Line users exchange: texts, images, video and audio and conduct free VoIP conversations and video conferences. In addition, Line is a platform providing various services including: digital wallet as Line Pay, news stream as LINE Today, video on demand as Line TV and digital comic distribution as Line Manga and Line Webtoon.

Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., originally Snapchat Inc. One of the principal features of Snapchat is that pictures and messages are usually only available for a short time before they become inaccessible to their recipients. The app has evolved from originally focusing on person-to-person photo sharing to presently featuring users' "Stories" of 24 hours of chronological content, along with "Discover", letting brands show ad-supported short-form content. It also allows users to store photos in a password-protected area called "my eyes only". It has also reportedly incorporated limited use of end-to-end encryption, with plans to broaden its use in the future.

<span class="mw-page-title-main">Hike Messenger</span> Instant messaging app

Hike Messenger, also known as Hike Sticker Chat, was an Indian freeware, cross-platform instant messaging (IM), and Voice over IP (VoIP) application that was launched on December 12, 2012, by Kavin Bharti Mittal and is now owned by Hike Private Limited. Hike functioned offline through SMS. The app registration used a standard one-time password (OTP) based authentication process. Hike was estimated to be worth $1.4 billion and had more than 100 million registered users.

<span class="mw-page-title-main">Fuze (company)</span>

Fuze is a cloud communications and collaboration software platform designed for the enterprise. Fuze was acquired by 8x8. The company is headquartered in Boston, Massachusetts.

Wire Swiss GmbH is a software company with headquarters in Zug, Switzerland. Its development center is in Berlin, Germany. The company is best known for its messaging application called Wire.

<span class="mw-page-title-main">Signal (software)</span> Privacy-focused encrypted messaging app

Signal is an encrypted messaging service for instant messaging, voice, and video calls. The instant messaging function includes sending text, voice notes, images, videos, and other files. Communication may be one-to-one between users, or for group messaging.

Social media therapy is a form of expressive therapy. It uses the act of creating and sharing user-generated content as a way of connecting with and understanding people. Social media therapy combines different expressive therapy aspects of talk therapy, art therapy, writing therapy, and drama therapy and applies them to the web domain. Within social media therapy, synchronous or asynchronous dialogue occurs through exchanges of audio, text or visual information. The digital content is published online to serve as a form of therapy.

Babylon Health is a digital-first health service provider that combines an artificial intelligence-powered platform with virtual clinical operations for patients. Patients are connected with health care professionals through their web and mobile application.

BetterHelp is a mental health platform that provides online mental health services directly to clients. The online counseling and therapy services are provided through web-based interaction as well as phone and text communication. BetterHelp was founded in 2013 by Alon Matas and Danny Bragonier, and acquired by Teladoc, Inc. in 2015. BetterHelp maintained its brand name post acquisition and continues to provide online counseling services to consumers.

Comparison of user features of messaging platforms refers to a comparison of all the various user features of various electronic instant messaging platforms. This includes a wide variety of resources; it includes standalone apps, platforms within websites, computer software, and various internal functions available on specific devices, such as iMessage for iPhones.

References

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  2. ↑ Furhlinger, Josh. All-You-Can-Text Therapy Services Wall Street Journal. Retrieved 30 March 2015.
  3. ↑ Brodwin, Erin. "I spent 7 amazing days with a therapist who only knew me via text message". Business Insider.
  4. ↑ Garun, Natt. "Talkspace now lets you send audio and video messages to your e-therapist". The Next Web.
  5. 1 2 Essig, Todd (June 29, 2015). "Talkspace Argues With Talkspace: Conflicting Messages And Clinical Risk". Forbes. Retrieved November 18, 2016.
  6. 1 2 3 Hill, Kashmir; Krolik, Aaron (2020-08-07). "At Talkspace, Start-Up Culture Collides With Mental Health Concerns". The New York Times. ISSN   0362-4331 . Retrieved 2020-09-24.
  7. 1 2 Ferguson, Cat (19 December 2016). "BREAKDOWN Inside the messy world of anonymous therapy app Talkspace". The Verge. Retrieved 19 December 2019.
  8. ↑ O'Brien, Sara Ashley (2015-05-12). "Text therapy startup raises $9.5 million". CNNMoney. Retrieved 2017-06-13.
  9. ↑ "Couples therapy — yeah, there's an app for that too". VentureBeat. 2015-02-12. Retrieved 2017-06-13.
  10. ↑ "Texting Your Therapist and Other Anonymous and Easy Ways to Get Help". pastemagazine.com. Retrieved 2017-06-13.
  11. ↑ "Adweek's Digital Hot List: 2017's Buzziest Apps, Gadgets, Startups and More" . Retrieved 2017-06-28.
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  14. ↑ "The Pros and Cons of Using Online Therapy App 'Talkspace'". The Mighty. 17 July 2022.
  15. ↑ "Now You and That Special Someone Can Get Couples' Therapy Straight Through Your iPhone" . Retrieved 2017-06-28.
  16. ↑ Lim, Jason. "Agora.io Is Poised To Dominate Real-Time Voice And Video Apps". Forbes. Retrieved 2017-06-28.
  17. ↑ Sara Ashley O'Brien (12 May 2015). "Text therapy startup raises $9.5 million". CNN. Retrieved 22 July 2020.
  18. ↑ Brian Gormley. "Talkspace Collects $15M for Online Therapy Services". The Wall Street Journal. Retrieved 22 July 2020.
  19. ↑ Jenny Gold (20 February 2017). "'Post-election stress disorder' strikes on both sides". CNN. Retrieved 2017-07-25.
  20. ↑ "In the Therapist's Office, Trump Becomes a Hot Topic". Bloomberg.com. 2017-02-09. Retrieved 2017-07-25.
  21. ↑ Farr, Christina (2018-04-11). "Online therapy start-up Talkspace hires a chief medical officer from UnitedHealth". CNBC. Retrieved 2018-04-11.
  22. ↑ "Online therapy co Talkspace raises $31m". Globes. June 9, 2017.
  23. ↑ "Talkspace Review". Online Therapy. Retrieved 2019-09-06.
  24. 1 2 Rebecca Heilweil (20 March 2020). "Feeling anxious about coronavirus? There's an app for that". Vox. Retrieved 22 July 2020.
  25. ↑ John D. Stoll (May 2020). "s Tele-Counseling During Coronavirus Booms, a Therapist Seeks Respite". The Wall Street Journal. Retrieved 22 July 2020.
  26. ↑ Samantha Brodsky (23 April 2020). "Free Therapy and Mental Health Services You Can Access During the Coronavirus Outbreak". Pop Sugar. Retrieved 22 July 2020.
  27. 1 2 Bruce Japsen. "Cigna Expands Mental Health Network With Talkspace's Virtual Therapy". Forbes. Retrieved 22 July 2020.
  28. ↑ Brooke DiPalma (28 January 2020). "How a 'cultural shift' is making way for a therapy tool promoted by Michael Phelps". Yahoo Finance. Retrieved 10 August 2020.
  29. ↑ "I spent 7 amazing days with a therapist who only knew me via text message". Business Insider. Retrieved 2017-07-13.
  30. ↑ "How much does Talkspace cost?". Talkspace - FAQs. Retrieved 2020-09-25.
  31. ↑ Chapin, Angelina (2016-07-09). "Text therapy: once my therapist sent me an emoji, I knew it was game over". The Guardian. ISSN   0261-3077 . Retrieved 2017-06-19.
  32. ↑ "Dawn of the Text-Message Therapist". Motherboard. 31 May 2015. Retrieved 2017-06-28.
  33. ↑ "The Power Of Purpose: TalkSpace Donates Over One Hundred Years Of Free Therapy To Medical Workers" . Retrieved 2020-08-16.
  34. ↑ Crook, Jordan (14 June 2016). "Talkspace online therapy platform raises $15 million Series B | TechCrunch" . Retrieved 2017-06-19.
  35. ↑ Cynthia Koons (12 May 2020). "Talkspace Wants to Build a Better Therapist With AI Listening In". Bloomberg. Retrieved July 8, 2020.
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  37. ↑ "Dawn of the Text-Message Therapist". Motherboard. 31 May 2015. Retrieved 2017-07-13.
  38. ↑ Torrence, Rebecca (2022-01-13). "JPM 2022: Talkspace faces securities fraud class-action suit as consumer revenue declines". Fierce Healthcare. ISSN   0362-4331 . Retrieved 2020-09-24.
  39. ↑ Essig, Todd (December 14, 2015). "Talkspace Tarnishes Promise Of Telehealth With Extravagant Claims". Forbes. Retrieved November 18, 2016.
  40. ↑ Essig, Todd (August 18, 2016). "Talkspace Reveals Clients' Email, Violating Clinical Confidentiality". Forbes. Retrieved November 18, 2016.
  41. ↑ Essig, Todd (June 29, 2015). "Should Buyers Beware? Hidden Risks In Talkspace's Text-Only Therapy". Forbes. Retrieved November 18, 2016.
  42. 1 2 Hill, Kashmir; Krolik, Aaron (2020-08-07). "At Talkspace, Start-Up Culture Collides With Mental Health Concerns". The New York Times. ISSN   0362-4331 . Retrieved 2020-09-25.
  43. ↑ "Groop Internet Platform Inc. v. Psychotherapy Action Network, Civil Action No. 19-1854 (BAH) | Casetext Search + Citator". casetext.com. Retrieved 2020-09-25.
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