GreenSky Credit was co-founded by David Zalik in 2006. He has served as the Chief Executive Officer and has been instrumental in the growth of the company. He started his entrepreneurial journey at a tender age and this inspired many young people. He wasawarded in 2000 for his ability to start and run a profitable business at his tender age. He believes that it is possible to train children on business skills that they would use to make a decent living in future. He has proven his entrepreneurial skills through various financial firms that he co-founded among them Greensky Credit. Apart from doing business, he participates in community-based programs that are meant to uplift the living standards of the members of the society. He was nominated for a prestigious award due to his hard work in 2016.
Over the years, he has received international recognition and earned a position on the Forbes list as one of the wealthiest entrepreneurs in the world. In 2018, his wealth is estimated at $2.5B. According to Forbes Magazine, he stands at position 965. David Zalik is an encouragement to many people who thought that they cannot do well in business without higher education. He has always had a desire to help new entrepreneurs who have difficulties in accessing capital and this led to the inception of Greensky Credit.
Small-scale businesses have challenges in raising capital as they are regarded as risky to many financiers. Greensky Credit offers a platform where businesses of any level can acquire loans instantly and at affordable rates. Over $10B has been given out as loans to various clients. Unlike some other financiers who require your physical presence to apply for a loan, you can access credit by using your smartphone at any time and place. This could be one of the reasons why it has remained competitive in the industry for years.
Kerrisdale Capital is a highly regarded investment management firm based out of New York City that is known in the financial industry for providing great value-oriented investment choices. The firm specializes in investing in the area of public securities. Kerrisdale Capital’s founder and Chief Investment Officer Sahm Adrangi is one of the most respected figures in the financial industry today. He founded the firm in 2009 and has been instrumental in building Kerrisdale into the powerhouse that it is today in the financial industry. Sahm Adrangi has become a name that investors trust in regard to his opinions on stocks. Recently Sahm offered his opinions regarding three company’s and did not hold back regarding the issues that he sees as apparent.
The first negative report published by Sahm Adrangi and Kerrisdale Capital was in regard to the company Proteostasis Therapeutics Inc. The company is a biopharmaceutical firm that is in its early stages of development. The new firm is deriving its market value in regard to a new drug that it is developing called PTI-428. The stock price for Proteostasis shot up 100%upon the new drug being granted the designation as a Breakthrough Therapy by the FDA. Kerrisdale Capital’s independent research has shown that the drug does not do what it claims to and the firm is, therefore, unable to put any faith in the current valuation of the company regarding its current stock value.
The second negative report put out by Sahm Adrangi is in regard to the St. Joe Company, a real estate firm that is currently working on the development of a property in Panama City Beach Florida. This is a project that has been ongoing for years now and still appears to be nowhere close to completion. The fact is that the lands that much of the property is situated on are swampy and remote and it is unclear how the St. Joe Company will be able to develop them into anything close to resembling the $1 billion mark that the firm’s current valuation sits at. Kerrisdale Capital has called in valuation into question and made it clear that it is not one that the firm has any faith in.
The third negative report file by Sahm Adrangi and Kerrisdale Capital is in regard to internet marketing firm QuinStreet Inc. Sahm has noted that the company has a shown very concerning behavior and that the company is generating capital at the expense of its clients and publishing false and misleading information regarding its value. Sahm and the team at Kerrisdale Capital are unable to back the company with their seal of approval.