The woman behind 'female Viagra' sold her company for $1 billion - see how she spent the money

Tyler Confrey-Maloney

Cindy Whitehead, the serial entrepreneur who built the company behind the "female Viagra," has a new venture aimed at helping women avoid the pitfalls that nearly ended her career.

In August 2015, a little pink pill designed to boost women's sex drives was approved by the Food and Drug Administration. The next day, Whitehead sold the company behind the drug to a pharma giant for $1 billion. That's when everything fell apart.

The buyer, Valeant Pharmaceuticals, became embroiled in scandal for jacking up the prices on some of its drugs. It doubled the cost of Addyi, the libido pill, which some say is the reason it never found its footing in the market. Whitehead stepped down as CEO in 2015.

In an interview with Business Insider, Whitehead said she's since turned her focus to helping female founders make breakthroughs of their own. The Pinkubator, which opens February 1, is a startup incubator based in Raleigh, North Carolina, where entrepreneurs will launch new products and companies under the guidance of Whitehead and handpicked mentors.

Take a look inside.