Jojo Hedaya’s Company Acquired by Rakuten

Jojo Hedaya was born on December 30, 1989. He went to Jewish high schools in New York but went to further his studies in Israel. Jojo did not graduate. He is the co-founder and CEO of Unroll.me. The company was created in 2011 and has thrived under the leadership of Jojo. Unroll.me is based in New York.

Junk email can be stressful especially when you are looking for an important email. Sometimes people fail to read or reply to important emails because they did not see them. This is why Unroll.me was created. Jojo Hedaya and Josh Rosenwald created the simple email organization tool out of their personal problems.

Unroll.me searches your inbox and combine all subscriptions into one email. The client can look through the subscriptions and unsubscribe from those they are not interested in. Unroll.me gives the client the mandate to select the time when they want subscription emails to be compiled into one email. Since the application is free, Jojo Hedaya and his partner earn through advertising in the app.

Jojo Hedaya and Josh Rosenwald sold Unroll.me to Slice, a shopping and package tracking application. The details of the terms of acquisition were left out. According to Rosenwald, the terms of the deal satisfied both the employees and the investors. Before Slice acquired Unroll.me, it had over 1.3 million users.Slice was bought by Rakuten earlier in 2014. The two co-founders Josh Rosenwald and Jojo Hedaya will join Slice. Rakuten has been acquiring e-commerce applications that are not directly focused on buying goods and services.

After the acquisition, Slice will take care of the business part while Unroll.me will concentrate on the product and its users. Unroll.me will not be more concerned in earning revenue. However, Jojo Hedaya and Rosenwald believe that there are opportunities for the application to generate revenue.

Slice and Unroll.me remained separate after the acquisition. Jojo Hedaya and his team continued operating from New York. However, there are plans for the applications to borrow features from each other in the near future. Josh and Hedaya have plans of releasing a mobile application of Unroll.me.

According to its founders, Unroll.me will continue to grow since it has additional resources.

https://www.instagram.com/jojohedaya/

In the Case of Fortress Investment Group’s Randal Nardone

Fortress Investment Group is an investment firm, located in New York City. First started as a private equity firm in 1998 by Randal Nardone and two other co-founders. In 2007, it was the largest private equity firm, trading publicly, in the US. Obtaining management ownership of about $70.2 billion in assets, in June 2016.

Randal Nardone

Randal Nardone is one of the founders of the Fortress Investment Group. He studied Biology and English at the University of Connecticut and later went on to graduate at the Boston School of Law. His transition into the financial industry started with Blackrock Financial Management Inc., as a principal. He went ahead and joined UBS AG in 1997, as a managing director. Currently, he acts as one of the principals and member of the board of directors at Fortress Investment Group LLC, serving as the CEO from December 2011. He was also a member of the Management Committee of Fortress since its founding in 1998. Read more on fortress.com

Alternative Management Positions

Furthermore, he holds the position of a director at Brookdale Senior Living Inc. Also, he has the position at three other companies, namely, Eurocastle Investment Limited, Alea Group Holding Limited, and GAGFAH S.A. He is a vice-president and the Secretary of Newcastle Investment Holdings LLC.

Forbes Position

Moving on, he has been named Forbes #558 billionaire. With a net worth of $1.8 billion, from his self-made fortune as a lawyer turned financial investor.

Acquisition by SoftBank Group

In December 2017, Fortress Investment Group was acquired by SoftBank Group Corp., Japan’s banking Hulk. Owning all of Fortress’ shares retailing to $3.3 billion. The company kept Nardone as part of its management staff. Fortress Group will continue to act as an independent investment firm, specializing in private equity, real estate, and credit cards.

Discussing the acquisition, he stated that he was very positive about this move and its beneficial factors to the firm. The company would grow faster and gain access to bigger credit sources from a future perspective. SoftBank Group Corp had bought the company for $8.08 for every share whereas the shares were being sold at $5.83, which is a huge investment in the company itself. The company made $1.39 billion when it was acquired.

By dividing the amount between how many shares are each owned in the firm, Randal Nardone is estimated to have $69.6 billion in assets under management. Half of it is fixed income and the rest from other sources such as private equity and credit hedge funds.

Visit https://www.marketscreener.com/business-leaders/Randal-Alan-Nardone-0031P8-E/biography/