Results 26 to 50 of 86
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02-06-2015, 11:31 AM #26
Who knows, perhaps the person who posted it was asked to take it down, I have that link saved if you want it.
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02-10-2015, 10:34 PM #27
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- Dec 2014
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- 28
deal closed. congrats abe and meir!
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02-10-2015, 10:39 PM #28
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02-10-2015, 10:39 PM #29
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- Dec 2014
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- 28
from what i understand a press release will be released in the upcoming days, but the deal did close today.
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02-11-2015, 06:44 AM #30
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- Jun 2014
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- 195
Was the sale price really 15M?
I thought they were worth more then that
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02-11-2015, 11:20 AM #31
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- Apr 2014
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- 46
pearl sale
Lol bizloanbroker - clearly you're one of those people who can never be happy for anyone else based on many of your posts. It pisses you off that you're collecting an 85k check a year and it really bothers you that a company you dislike was acquired for north of 100m. There's a lot of newbies on the forums and people who like to distort history but none of you would be selling ach cash advance product the way we know it if not for pearl. They innovated cash advance 4 years ago to what it is today. We're all just riding their coat tails. Abe and meir have been doing this long before most and at this point have cleared the most money building a company on zero debt.
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02-11-2015, 11:35 AM #32
I agree with almost everything you said there.. Almost, to say cash advance is what it is today because of Pearl I think is a bit of a stretch. Cash advance is what it is today because of Advance Me, MCC and the other bigger banks that have been doing this since the guys were Pearl were workings at ISO's sending them business. So don't talk about distorting history if you are not sure of the history yourself.. This industry didn't start 4 years ago with Pearl
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-11-2015, 11:40 AM #33
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- Apr 2014
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- 46
pearl sale
Let me clarify - the ACH market (not cash advance as a whole) is where it is today bc of pearl. Nobody outside of on deck was doing the majority of their deals as ach deals. That started 4 years ago with pearl. I believe, and Isaac can correct me - Yellowstone was sending their ach deals to pearl at the beginning. Abe and Meir have been doing cash advance for 10 years each at least and before starting pearl they both had the highest paid position at the largest MCA brokerage in the history of cash advance to this day, at that time.
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02-11-2015, 11:45 AM #34
they definitely came from one of the biggest brokerage firms in MCA history that is for sure. If they were the ones that started the ACH boom I am not sure about that. A lot of the banks were moving in that direction at that time. Either way when the sale goes through and if it is official they definitely will come out the other side of this with smiles on their faces
Last edited by J.Celifarco; 02-11-2015 at 11:49 AM.
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-11-2015, 11:51 AM #35
- Join Date
- Apr 2014
- Posts
- 46
pearl sale
They were the only ones at the time solely doing ach deals on a large scale. The bigger banks followed suit in the months after Pearl started. Isaac from Yellowstone (I use his name for his reputation on and off the forums) who is funding a lot of deals in house as ach would certainly attest to Pearl's initiative in ach deals and Yellowstone being their biggest ISO at the beginning months of Pearl.
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02-11-2015, 11:54 AM #36
- Join Date
- Jul 2013
- Posts
- 352
They did innovate the second position. OnDeck and Strategic were both doing ACH's before Pearl was around. Congrats to the sellers though. "If you build it they will come".
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02-11-2015, 11:59 AM #37
I for one am really happy for them!!
We started in 2009, Abe, Danny and Mitch joined us in early 2010 and worked out of our back office. We sent them a ton of business and we all made money together. Everyone makes this huge deal about the Pearl/Yellowstone rivalry but the simple facts are that when we stopped doing business they had developed an iso network and no longer needed our deal flow and we had devolved our in house funding and no longer needed their underwriting.
It says a lot about where our industry is going to see a sale like this.
buckle up boys and girls the next few years are going to be really exciting
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02-11-2015, 12:02 PM #38
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- Aug 2014
- Posts
- 49
pearl sale
Abe Danny Isaac these are the pioneers of the industry hands down
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02-11-2015, 12:04 PM #39
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- Jun 2014
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- 195
clearly Achfund is a Pearl employee. now that they are owned by a PE firm I hope you have a job in a few weeks after they clear house of all the riffraff
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02-11-2015, 12:10 PM #40
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- Apr 2014
- Posts
- 46
pearl sale
Lol 1) I'm not an employee of Pearl and 2) don't you have to go collect your $354 to keep on pace for your 85k paycheck at best?
"...After they clear house of all the riffraf" you sound like one of those guys who uses catch phrases you learnt online while playing with pretend money in the stock market
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02-11-2015, 12:14 PM #41
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02-11-2015, 12:16 PM #42
Who did they sell to?
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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02-11-2015, 12:25 PM #43
- Join Date
- Jun 2013
- Posts
- 293
Well said, Isaac. Very exciting stuff. Thanks, Guys.
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02-11-2015, 01:21 PM #44
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- Dec 2013
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- 4,713
selling is never a bad strategy. however GoPro founder never sold when the Japanese camera makers came knocking and is now worth many Billions (Gopro founder was offered many times many millions but kept the gig in his hands/ same with netflix....
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02-11-2015, 01:47 PM #45
- Join Date
- Apr 2014
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- 46
pearl sale
@mcaguru - while ur point is valid in general, the biggest problem as a funder in cash advance is getting your cash out. Especially if you are self funded (no lines, hedge funds etc). There's really no way to take cash off the table unless you close up shop and unwind the portfolio or take a buy out. If your earnings are strong enough and you have a big enough book (I.e. Funding 120m+ a year with 4,000+ active merchants at a time) you can get a multiple based on earnings. So in short selling is a smart move in cash advance as a self funded bank.
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02-11-2015, 02:03 PM #46
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- Dec 2013
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- 4,713
Is that you opinion? but hey there is no right or wrong here. selling is always an option. i never cry over selling my apple shares years ago after all at that point i was in the green.
Last edited by mcaguru; 02-11-2015 at 02:13 PM.
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02-11-2015, 02:11 PM #47
That's great that pearl sold. I don't think everyone has to argue about it. I'm looking forward to the press release they put out.
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02-11-2015, 02:13 PM #48
I am still curious to know who the buyer is
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02-11-2015, 02:14 PM #49
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- Dec 2013
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- 4,713
yep
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02-11-2015, 03:33 PM #50
- Join Date
- Feb 2014
- Posts
- 23
Just wait for the UCC to be filed, then we will know
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