Category Archives: Businessman

Adam Goldenberg’s Future of Fashion

JustFab co-founder Adam Goldenberg was only 15 when he founded his first company, an advertising network of gaming sites, which was sold to Intermix Media. Goldenberg dropped out of school to become Vice President of Strategic Planning at Intermix. He was later promoted to Chief Operating Officer, making him the youngest COO at only twenty years old. Adam Goldenberg met Don Ressler at Intermix and became friends. When the company was bought in 2005 by News Corporation, Don and Adam started their own company.

The pair created an e-commerce platform called Intelligent Beauty in 2006. After Don and Adam established brands as market leaders, they began to think of a new kind of personalized shopping experience. They wanted to incorporate cutting-edge fashion and social interaction at an affordable price. For this to work, they needed it to be fun and engaging. The guys expanded the personalization platform by hiring designers and consultants, and building a subscription model that was appealing and affordable.

The ending result was JustFab, a community where in which it’s members receive a variety of handbags, shoes, and accessories custom for their taste at only $39.95 a month. Don stated that they are not just shipping out bags, accessories and shoes once a month, they are keeping engagement high by changing their subscription model. JustFab provides style boards and shows you each look on models to help you learn how to wear every item. The company raised $85 million in August of 2014, in a round led by Passport Special Opportunity Fund. It brought JustFab’s funding to $300 million, and it turned into a so-called “unicorn” or a company whose valuation is over $1 billion.

“We never think of ourselves as a unicorn, so it’s not like we’re in the office saying ‘It’s great to be a unicorn!” he said. He also stated that they have a lot of employees who have dedicated the last five years to building great brands and making their customers happy on hudl.com. Claiming that the last round of financing didn’t have a large impact on the way that they operate as much as their previous rounds. The validation they have received is a great thing, and it lets them know that they are building a company that is valuable.

Read more: TechStyle CEO Adam Goldenberg Talking Name Change on CNBC

Adam Milstein: A Rising Star Among Philanthropists

Who is Adam Milstein and why is he important to the world? Adam Milstein is an Israeli-American born in Haifa, Israel. In his early life Milstein joined the Israeli Defense Forces (IDF). During his time in IDF Milstein fought in the 1973, Yom Kippur Wars. After his service with IFD, Adam Milstein enrolled in college and received a Bachelors of Science degree in economics and business from Technion. While in college, Adam Milstein took interest in his father’s real estate and development business. It was here that everything would change for the young Adam.

In an interview Milstein is asked a series of questions regarding his successful career. In one of the questions it asks where the inspiration for Hager Pacific Properties came from. Milstein responds with, “I decided to go out on my own, and started working as Real Estate Commercial broker…I went out on my own to become an investor in real estate.”

Another questions asks Adam what is the most exciting thing about his line of work. He replied by stating, when supply and demand for products switch places every so often, that it amuses him.

The most important question asked of Milstein, regarded his productivity as an entrepreneur. The question asked was, what is “one habit that makes him productive as an entrepreneur?” Adam’s wise advice stated, “Follow-up, consistency, and persistence.” This is advice we can all take into account and learn from to be successful like Adam Milstein. For more information about Milstein please visit https://ideamensch.com/adam-milstein/.

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How Stephen Rotella Is Leading The World of Philanthropy

When you think of the name Ford you probably think of large durable pickup trucks that are fortified enough to haul around large equipment in their truck beds and designed to drive through snow and other kind of treacherous terrain. What you probably don’t think of is the word philanthropy and the organization that is known as the Ford Foundation. The Ford Foundation and the Ford Motor Company share a common origin in that they were both begun at the behest of people connected to the the innovative industrialist Henry Ford. In the 1930s Edsel Ford, Henry Ford’s son, commissioned the establishment of the Ford Foundation as an organization that would be concerned with distributing resources devoted to philanthropy, education and the sciences. Today the Ford Foundation, which is located in New York City, is worth more than $12 billion and uses those resources to support issues like internet freedom, equitable development, gender, racial and ethnic justice, civic engagement and youth opportunity and learning. The Ford Foundation is an excellent example of what entities in the private sector can accomplish when they partner with entities that exist to champion social causes and the public good.

While businessmen like Andrew Carnegie (of the Carnegie Foundation) and Henry Ford are no longer with us there are businessmen in contemporary America who are following the examples that both men set in their legacy of using their resources for the public good. One of those men is Stephen Rotella the current Chief Executive Officer at StoneCastle Cash Management, LLC. Rotella has a background in business that includes holding a number of positions in the world of financial services. He has worked at Chase Manhattan Mortgage Corporation where he served as the company’s President. He was also the Chief Executive Officer of Chase Home Finance. The other financial services organizations that Stephen Rotella has worked for include WMI Holdings Corporation and JP Morgan Chase.

These days Rotella is leveraging the business acumen that he has built through spending nearly three decades working in the financial services sector for the non-profit organization LIFT. LIFT is an anti-poverty non-profit that focuses its resources on helping families that are living below the poverty line in the United States. LIFT has offices in Chicago, Los Angeles, Washington, DC and New York City. Rotella has served as the Chairman of LIFT’s national board of directors for nearly two years now. Before holding that position he had volunteered on the board’s development committee. Rotella’s work in philanthropy includes serving on LIFT’s board and the boards of other non-profit organizations like BalletMet Columbus, The Seattle Foundation and ArtsFund. As he deepens his engagement with LIFT it is likely his support will enable LIFT to be even more effective at achieving its goal to help more people leave poverty behind.

Follow Stephen on LinkedIn.

Source: http://www.prnewswire.com/news-releases/lift-national-board-of-directors-elects-stephen-j-rotella-as-new-chairman-300191234.html

What Stephen Murray Did As CEO Of CCMP Capital

Stephen Murray, deceased as of March 2015 was the CEO of CCMP Capital, a private equity firm that is currently run by Greg Brenneman and a team of executives. Murray had contributed greatly to the firm’s growth, including its initial public offering. He had sat down with peHUB in 2007 to discuss the new direction of the company.

First he explained how the company was going to be raising capital outside traditional bank loans and venture capital funding, and had garnered its funding from private investors and alternative means. He also had taken over as CEO from Jeffrey Walker who had previously led CCMP Capital during its time with JP Morgan, and it had to do with a slightly different philosophy on how the company would obtain growth. And Murray also explained how in leaving JP Morgan, he was able to attract larger individual investments and managed the transactions as part of those investments all the way through.

Stephen Murray had quite a legacy as an investor and large business deal maker since he first got into investment banking and building business portfolios. He got his degrees from Boston College and Columbia University, and started out as a credit analyst at Manufacturers Hanover Corporation. This was a major investment bank in Manhattan that became the point of interest for many other big banks, including Chemical Bank in the late 1980s, and was later merged with Chase Manhattan and then JP Morgan.

Read more:
Stephen Murray, Ex-CCMP Chief Who Built LBO Firm, Dies at 52
CCMP Capital Advisors Gets Backing to Resume Investing From Fund

Murray had moved during his career from credit analyst and advisor to managing the buyout division, serving as vice president while Jeffrey Walker was running the division. The buyout division started operating more autonomously as the bank underwent its mergers, and Murray had helped raise several public offerings during its time, including a large $5.2 million offering in 2002. The division, known at first as JP Morgan & Partners started buying several retail, healthcare and energy companies. But due to potential conflicts of interest with clients, JP Morgan & Partners parted ways with the parent bank.

Murray served as CEO from 2007 to 2015, and even after the firm’s initial public offering had helped raise an additional $3.6 billion in 2014. Unfortunately, Murray’s health started declining in late 2014 and in early 2015 it was announced that he had stepped down as CEO. Just weeks later Murray passed away, leaving behind a wife and four children, but his fellow executives commended his legacy in statements following his passing.

Read more from Stephen Murray on Institutional Investor
Follow Stephen Murray on Crunchbase

John Goullet Shares Tips On Overcoming Business Challenges

Business challenges are quite common among entrepreneurs, and John Goullet of Diversant offers quite a lot of information to business managers. He believes that every manager may raise their game when the opportunity is presented, and this article explains two pointers John gave to readers in a recent interview. His approach to business is helpful for those who are new, and he wishes to help his disciples avoid early mistakes.

#1: Hiring Early And Often

Hiring is one of the hardest things for a young business owner to do as they do not wish to spend all their money on people. The staff within a business helps everything push forward, and the business makes more money as more people complete fine work. John wants all his readers to understand that hiring is an essential part of business management. His business functions around good people, and he empowers them to do the best work possible.

#2: Bringing The Right Culture To The Office

John has watched culture changes in multiple businesses over his career, and he recognized a change in culture at Diversant that he did not believe was appropriate. He wants all his readers to understand that a culture change within a business is not automatically healthy. Every business owner must ensure they are consistent with their culture, and employees will buy in over time.

#3: Offering Proper Work Incentives

John believes in trusting several different people with responsibilities in the office that keep them busy. Training new employees is quite important as each must be trained by someone just above them. Young employees who are given incentives to perform will ensure proper training for each new recruit, and the business will function with the culture created by the owner.

The career of Diversant principal John Goullet reflects his belief in training and accountability. He built Diversant using a plan that focuses on proper work ethic, and he trains his youngest employees to become a part of their future. Executives are given a piece of the company they may invest in, and young employees help train and police each other in an effective work environment.

More on John Goullet:

http://hackronym.com/john-goullet-building-the-future/

http://noanimalsleft.org/diversant-principal-john-goullet/

CCMP Capital CEO Stephen Murray Dies At 52

Former CCMP Capital CEO Stephen Murray has passed away, according to an article in the Wall Street Journal. The 52-year-old investment guru had taken a leave of absence in February for undisclosed medical reasons. The news has investors on pins and needles, according to an unnamed source.

“We are sad to announce the passing of our friend and colleague Stephen,” said interim CEO Greg Brenneman. “This is a huge blow to our company. We have sent our heartfelt condolences to his wife Tami and his children.”

Under Murray’s guidance, CCMP rose through the ranks to become one of most profitable investment companies in the world. The company’s portfolio is currently worth over $3 billion.

CCMP Capital has undergone a number of mergers and acquisitions over the years.

Murray, a Boston College graduate, joined the company in 1984 right out of college. Murray entered Hanover Manufacturers Corporation as a credit analyst. After a few years, he was named head of the credit department.

Hanover was soon bought by Chemical Bank Partners. The company then merged with Chemical Bank Partners. After the spinoff of JP Morgan Chase, CCMP Capital was born. In 2007, Murray was named CEO. One of Stephen Murray’s most impressive ventures was to outbid several larger investment houses for pharmaceutical giant Warner Chilcott.

“Stephen was a heck of a salesman,” said a former colleague. “I don’t know of anyone who exceeded him in talent.”

Murray was also known for his tremendous generosity. He sat on a number of boards including Aramak, The Vitamin Shoppe, AMC Entertainment and Quizno’s on wsj.com. He gives to the Make-A-Wish Foundation and the Food Bank of Lower Westchester County.

Colleagues say Stephen Murray left a tremendous legacy and very big shoes to fill. “He was a legend in this industry,” said Brenneman. “He will be sorely missed by all who knew him.”

Stephen Murray’s Fantastic Career

Stephen Murray made a name for himself in the private equity field. He was a brilliant investor with a knack for making deals that made his clients a lot of money over the course of his long career. Stephen is best known for being the president and CEO of CCMP Capital. This is a private equity company that is located in New York City. He held this position from 2007 until he left the company due to health problems in February of 2015. Unfortunately, he died one month later at the age of 52. However, Stephen Murray left a remarkable legacy in the private equity industry that will not soon be forgotten. Stephen’s career is one that is admired and studied by many investors.

Stephen was always good in school. He used his considerable academic gifts to eventually gain acceptance into Boston College. Stephen Murray decided to major in economics because he knew there were many different career paths he could take with that particular degree. He eventually completed his studies at Boston College in 1984. He received several lucrative job offers at this time. However, he decided to enroll in graduate school in order to further his education. He chose the Columbia School of Business as the place where he would pursue a business administration master’s degree. He would complete this degree in 1989.

With his education complete, Stephen was approached by the Manufacturers Hanover Corporation. They offered him a unique opportunity to join their training program. Stephen Murray realized that this was an enormous opportunity to learn a lot of very valuable information about the industry that he was interested in. He would then move on to a job that was offered to him at the MH Equity Corporation. It was at this job that Stephen got his first real taste of what it was like to work in the private equity field on a regular basis. He knew that he wanted to eventually oversee hedge funds on Patch because he loved the challenge that investing presented to him.

Stephen made himself a very valuable member of the company. It was because of this that he was retained during several corporate shakeups that occurred during his employment with the company. MH Equity would eventually merge with Chemical Venture Partners in 1991. Five years later, Chemical Bank would once again merge with Chase Manhattan Corporation. Stephen stayed loyal to the company that gave him a start in the private equity industry. It was in 2006 that Stephen thought the time was right to finally break out on his own. He and several of his colleagues founded CCMP Capital. It was overseen by JP Morgan Chase. The company was a tremendous success. Stephen’s brilliant leadership allowed the company to flourish.

The Legacy of Stephen Murray Continues to Flourish Even After His Death

Steve Murray was a principled executive, an investing genius, and a terrific dealmaker. He was one of the pioneers who oversaw the spun out of CCMP Capital from JP Morgan Partners. After serving as a junior employee and President of CCMP since 1989, Murray left his position in 2015 a month before his death. The company referred to his high profile exit as “health-related” reasons.

Stephen Murray’s impact in the society

The demise of Stephen Murray continues to shake many people, especially those who knew the roles he had played in redefining the corporate sector on fortune.com and making the world a better place. However, even after his death, his contributions to the business and philanthropy worlds are still noticeable. He was an active supporter and donor of Metro New York-based Make-A-Wish Foundation. His main intention was to ensure economically disadvantaged children could access quality education and become better persons in the society on Patch. Other beneficiaries of his philanthropic support include the Stamford Museum, Columbia Business School, and the Fairfield County-located Food Bank.

Academic accomplishments

Steve Murray treasured education a lot and believed it had played a significant role in his success in both philanthropy and business arena. He leveraged his economic knowledge acquired from pursuing a degree in economics at the prominent Boston College to help his firm invest wisely and manage its finances. Murray was an alumnus of the Columbia Business School where he received a degree in the field of business administration.

Career breakthrough

Steve Murray started his business career by enrolling in the Manufacturers Hanover Corporation Training Program as a beginner in credit analysis. Later on, he became part of MH Equity Corporation that joined the private equity group of Manufacturers Hanover with its commercial unit. In 1991, Chemical Bank bought Manufacturers Hanover while MH Equity combined with Chemical Venture Partners. In 1996, Chase Manhattan Corporation combined with Chemical Bank while Chemical Venture Partners changed its name to Chase Capital Partners. In 2005, Stephen Murray ascended to the helm of JP Morgan Partners’ buyout business. In 2006, he led the separation CCMP Capital comprised of growth equity and buyout group from JP Morgan Chase. Murray became the CEO and President of CCMP in 2007.

Although CCMP Capital remorse his passing, the firm is equally happy with Steve Murray’s contributions, especially the development of an excellent portfolio. Under his leadership, the company created a broad base of loyal clients. The company can now handle complex transactions and oversee major buyouts thanks to the leadership and deal-making skills that Murray passed down to his employees.

Billionaire George Soros Earmarks $500 Million To Fund New Startups By Refugees

There doesn’t seem to be an end to the philanthropic work of Hungarian-born hedge-fund investor, George Soros. Soros fled Hungary in 1947, to avoid capture by the Nazi. He went to London, became a waiter, and enrolled in the London School of Economics. He graduated with a degree in philosophy. He decided to move to the United States in the 1950s, and he landed his first job on Wall Street. Fast-forward more than 60 years, and Soros is now the 32nd richest person on the planet. And this refugee has decided to help other refugees start businesses. According to a CNN article, George Soros is investing $500 million in companies that are started by refugees and migrants, and he is also investing in businesses that focus on the needs of migrants.

Soros established his Open Society Foundation in 1976, and that organization is now in more than 100 countries. The aim of the Open Society Foundation is to promote democracy and freedom in oppressed countries. The investments made by Soros will be owned by the Soros nonprofit organizations. The main objective is to create products and services that are needed by refugees. More than 1.3 million refugees applied for asylum in Europe in 2015, and more than 65 million people worldwide were forced to leave their homes in 2015. George Soros said the amount of refugees arriving in Europe has created political and social unrest in the European Union, and he is trying to put a positive spin on the crisis.

George Soros believes the refugees need ways to communicate. Cell phones and the Internet are as crucial as shelter and water for refugees. The money that Soros is providing will help start businesses that focus on information technology as well as other businesses.

The migration issue has been the topic of debate in the European Union for the last two years. Soros has tried to offer solutions in the past, but they were ignored by the leaders of the EU on nybooks.com. He felt the need to put his money to use while EU members bicker over the number of refugees they will allow into member countries. Some EU members have closed their borders to refugees, and that is a violation of the rules of the EU. But at this point, the fear of terrorism and the inability to blend the migrants into the tight social structures of some countries has taken precedence.

The 86-year-old Soros is leading by example once again. He has dedicated his life to helping people live a free life wherever they choose, and this new influx of money will help some people do that. But more has to be done to solve the migration crisis, and it has to be done soon, according to Mr. Soros.

Starting a Business

There are a lot of people who want to start a business from the ground up. However, this is a lot harder than many people imagine. Not only does it take a lot of time, but starting a business takes a lot of money as well. If you want to take things to the next level, getting some financing help may be needed.

One of the best ways to get financing for your business is to sell a portion of your ownership. Mark Sparks is starting a new TV show called Spark Tank.

On the show, he will talk to business owners about their business. If he likes the idea, he will go ahead and invest his own money into their business for a portion of the equity. This is a great way for business owners to get more cash without having to borrow the money to do so.

Mark Sparks

According to Crunchbase, Mark Sparks has always been great at starting and owning a business. There are a lot of people who want to be like him one day. He now spends his time by working with other people on their business. There are many people who learn a lot of things by working with him.

If you are someone who needs some additional help with your business, he is a great resource to use. Mark Sparks knows what it takes to succeed in the business world, and he can apply this experience to your situation.

Over the long term, getting quality guidance is one of the best things that you can do. If you are interested in going on the show, he is a great motivation to do so. The business advice that you will receive is some of the most valuable advice you can get.

Earning a Profit

Making a profit in your business is the ultimate goal. One of the best ways to do this is to scale your business up over time. However, there reaches a point in every business when a person must get additional help before going to the next level. Whether the limit is intelligence or financing, there is a ceiling that everyone hits.

This is why having a quality partner is essential. Mark Sparks knows the advice to give depending on the situation. This is why going on the show is such a good idea for some people.

Not only will you possibly receive financial help, but you will be getting advice from one of the best business owners in the entire country.

Over the long term, Spark Tank could be a great show to go on and watch. There are a lot of people who are interested in starting up their own business, and Mark Sparks wants to help.