GreenSky Scores With Credit Provider Partnership

The financial technology company GreenSky’s role is an intermediary between lenders and potential borrowers, typically consumers with strong credit wishing to make large home-improvement purchases. The company promotes its role in providing technology to banks and merchants enabling them to make loans to consumers for their remodeling, solar, and other projects. Recently, the platform has added elective medical procedures to its lending program. Federally-insured, federal and state-chartered financial institutions provide financing for the company’s credit programs. The company’s strong second quarter results are an indication of the importance and stability of its relationships with banks, home improvement enterprises, and health care providers.

Merging merchant base and technology equals growth

A September 2018 article in Forbes highlights a recent win for GreenSky as the company enters into a partnership with American Express. The credit card company’s established customers will boost its new partner’s reach significantly. American Express brings a more high-end merchant base, yet another growth dimension. The partnership benefits American Express as well because the company looks to attract more merchants, and now plans to market the technological offerings.

The number of merchants using the technology platform grew approximately 50 percent per year from 2015 through 2017. With American Express’ marketing efforts, this growth should continue.

EBITDA balancing act

Because of a slowing market for home projects, the financing platform has experienced a drop in transaction volume. During the years 2015 through 2017, transaction volume per merchant fell from approximately $409,000 to $346,000. Furthermore, analysts expect the volumes to continue to decline, reaching about $290,00 for 2020. Additionally, Forbes analysts project that the company will expand sales and marketing efforts, increasing costs. However, with the American Express partnership adding merchants to the platform, it is possible the drops in transactions will slow. Plus, American Express will provide efforts and opportunities for stabilization or growth with little effect on GreenSky’s operating costs.

Based in Atlanta, Georgia, and founded in 2006 GreenSky LLC is a financial technology company. The company offers a platform that allows consumers to finance big-ticket items such as furniture, replacement windows, and siding or elective medical procedures with a term, fixed-interest loan.

Sahm Adrangi Release Negative Reports

Sahm Adrangi, the Investment Manager of Kerrisdale Capital, released a negative report seeking to explain why the firm has recorded a lower position in the Eastman Kodak Company, a commercial imaging and printing firm whose stock rose 187% after launching a partnership with Kerrisdale Capital. The manager said Eastman Kodak Company is literally flawed and thus incapable of providing substantive benefit for its shareholders. He further termed the company along with another firm by the name WENN Digital Incas firms, as firms with well-known dubious backgrounds. He accused Eastman Kodak Company of making hollow attempts to cover its unsustainable and ineffective capital structure. According to the investment manager, Kodak’s soon to be launched partnership will do little to save the firm from plummeting revenues, mounting default risk and negative free cash flow. The seasoned investment management professional promised to hold a press conference where he will release more details regarding the recent negative report.

Sahm Adrangi used to work as Longacre Fund Management’s Investment Analyst before launching Kerrisdale Capital Management. Longacre Fund Management is a privately owned firm with over $1.2 billion valuable assets under its management. Adrangi did investment analysis for the firm, in addition to researching for equity fund and credit fund on behalf of the firm. Before joining Longacre, he worked for Chanin Capital Partners, in the bankruptcy restructuring department. The investor advised creditors on bankruptcy restructuring. His work entailed attending bondholder committees, representing bank debt holders and representing creditors from various bankrupt and distressed companies. In addition to working for these two firms, Sahm Adrangi has worked for Deutsche Bank, where his role primarily entailed restructuring and syndicating non-investment bank debt, and leveraging buyout financings. He is a graduate of the Yale University, where he obtained a BA in Economics. His Kerrisdale Capital offers investment managing services, and it currently manages over $300 million. Based in New York, the firm shares its investment management ideas with the larger investment community via its official site.


Sahm Adrangi move to release the negative report regarding Eastman Kodak Company paints the firm in a truly negative light and thus its future could be ultimately uncertain moving forward.


Jim Tananbaum Investor in Healthcare

Foresite Capital is a venture capital firm that assists future healthcare leaders to access capital. The firm has an interest in supporting both private and public healthcare companies that provide disruptive products and services to the general public. Jim Tananbaum founded the firm in the year 2011. Its offices are based in San Francisco and New York City.


Mindstrong Health is a startup company aimed at using smartphone technology to assist patients that suffer from neuropsychiatric disorders. The company’s management announced that the firm had received a Series-A round of funding of $14 million from Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund. According to the company’s management, the funds will be used to develop a neurological-focused device.


According to Mindstrong Health CEO, this device will allow doctors to measure mental disorder objectively. Before the invention of the neurological device, doctors relied on subjective reports to analyze the state of mentally-ill patients. This gadget will be in a position examine the behavior and cognition of persons at a level that has been achieved before in this particular field. Mindstrong has developed an application that will be able to analyze a patient’s brain function through the patient’s patterns of typing and scrolling. Jim has supported this new invention by Mindstrong Health.


Jim Tananbaum Career Journey


Jim is the founder and CEO of Foresite Capital. Jim is responsible for developing the company’s organizational structure and investment strategy. The company has a capital base of $1.1 billion in assets. He has been in the healthcare business for more than 25 years. During this time he has facilitated formation and growth of many healthcare franchises.


Before starting Foresite Capital, Jim Tananbaum had also helped in the founding of two biopharmaceutical companies and two healthcare investment companies. Upon finishing Harvard Medical School, Jim founded GelTex Pharmaceuticals. This company performed well since it was able to purchase two drugs in the market. Jim was also the founder and CEO of Theravance, Inc (NASDAQ: THRX). Jim is also credited for founding Prospect Venture Partners II and III. Tananbaum was also the partner at Sierra Ventures.


Check out Foresite Capital’s Facebook page here.

Highland Capital

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