The Simple Brilliance Of GreenSky Credit’s Smartphone App

Forbes was recently allowed a rare look behind the scenes at GreenSky Credit. This financial tech company has been quietly building quite a portfolio in an oddly shaped basement in Atlanta, Georgia. Dozens of employees buzz about the open space perfecting a smartphone app for contractors.

Contractors aren’t generally the target of tech startups. But founder and CEO David Zalik bet on contractors to be the key in opening one of America’s prized demographics — homeowners. His bet paid off resoundingly and now he sits on a $2.5 billion fortune.

The smartphone app is rather simple yet astoundingly brilliant. It allows everyone involved to get exactly what they want. Contractors get more work, homeowners get the house of their dreams, banks get reliable loans and GreenSky Credit gets a financial piece of it all.

Contractors are better able to drum up work by promoting GreenSky Credit’s services. The services come via a smartphone app that homeowners can easily use. They choose a particular home renovation loan and are approved in minutes. Contractors then soon show up to begin renovations on the homeowner’s dream house. So far, everybody wins. But here’s where it gets really brilliant.

GreenSky Credit does not lend their own money. Instead, they take their prime loan seeker’s information to the bank. The bank then issues the loan and assumes all responsibility. David Zalik has figured out a way to make money without assuming any risk.

Everybody in the equation ends up paying GreenSky Credit. Contractors are happy to share 6% of the loan amount with the financial services company. And, of course, homeowners pay the contractors. A portion of which eventually ends up in the pockets of GreenSky Credit. Finally, the banks share 1% of their spreadsheet at the end of each year.

What’s even more impressive about this company is the founder’s story. David Zalik didn’t even finish high school but took out $10 million in loans to start his company. He eventually attracted investors before recently filing a confidential IPO with the Securities and Exchange Commission. His company is projected to make $500 million in revenues in 2018 alone.

https://www.creditkarma.com/reviews/personal-loan/single/id/greensky-personal-loans

Top Insights on Sahm Adrangis Kerrisdale

Sahm Adrangi finally gave a report on the online traffic caused by the QuinStreet Inc., along with its affiliated websites. QuinStreet Inc., is a company that is making millions of revenues from the concept of creating some traffic online. By clicking various links or filling some online forms, users cause some online traffic as required by the company the firm can earn some revenue.

The revenue for the company has entirely grown from a single client, besides the fact that the firm has overlooked the management silence, to a huge client base. He also stated that QuinStreet is a renowned low-quality organisation featuring a flawed business model.

According to the New York, April 11, 2018 Newswire, Kerrisdale capital published its negative report regarding its entire short position in QuinStreet Inc., is an internet marketing firm that has faced several stock price changes for the last few years. Many investors are very optimistic that the company is finally achieving its set goals. Nevertheless, Kerrisdale poses a serious doubt regarding the sustainability and quality of the business of QuinStreet Company. He says that the company has benefited much from sham web traffic.

About Sahm Adrangi and Kerrisdale Capital Management

Before founding the Kerrisdale Capital management, Adrangi was a renowned investment analyst at a company called Longare Fund management. It is a private investment under a partnership deal. The company features 1.2 million dollars of assets which are allocated across an equity fund as well as on a flagship distressed debt.

Before he had joined Longacre, Sahm Adrangi worked for the Chanin Capital Partners in bankruptcy structuring department. In his role, Sahm assisted in advising various creditors in chapter 11 bankruptcy and out-of-court restructuring. His core responsibilities included representing the bondholder committee, debt holders, and various equity committees along with other creditors of the bankrupt companies or distressed companies.

His new company, Kerrisdale capital, is an investment management company that is situated in the New York. Kerrisdale now manages over 300 million dollars focusing on long-term investments as well as particular event-driven situations. The company takes pride in its ability to share its ideas with the entire investment community via its incredible websites along with other third party websites. Sahm Adrangi founded the company in 2009.

https://www.crunchbase.com/person/sahm-adrangi