Jake Goldstein
Verified Expert in Finance
Finance Expert
Jake sourced and raised BOLD's (a fitness startup) venture funding to become the Founder/CEO, launching three sites in Chicago. Before BOLD, he was Head of Finance, Operations, and Biz Dev for the healthcare IT company, NowPow, where he led all operational endeavors: fundraising, strategic finance, FP&A, and investor reporting. Jake was a hedge fund analyst with Melvin Capital and an investment banker with BofA Merrill Lynch, advising banks on strategic M&A and capital-raising initiatives.
Career Highlights
Education Highlights
Certification Highlights
Case Studies
Industry Expertise
Other Expertise
Work Experience
Founder | Chief Executive Officer
Bold Numbers, Inc. ("BOLD")
- Successfully created and launched BOLD in Chicago as a multi-faceted, venture-backed fitness conglomerate focused on building, managing, automating, and operating non-traditional real estate spaces as high-end, personalized fitness centers.
- Raised $500,000 in seed funding from a consortium of institutional capital sources (Motivate Venture Capital) and a network of high net worth angel investors; led corporate fundraising efforts, including prep of pitch materials and legal deal structuring.
- Designed, implemented, and managed three 320-square foot micro fitness centers built from shipping containers installed on outdoor surface lots in Chicago’s prominent West Loop neighborhood for commercial use.
- BOLD’s Gym Pods are run as independent fitness centers booked by personal trainers and everyday gym-goers in 60-minute workout increments via a “pay-as-you-go” model.
- Designed, implemented, and managed BOLD’s back-end business management platform in collaboration with Mindbody. This includes coordinating the launch of BOLD’s iOS/Android mobile app for seamless hourly bookings at BOLD’s Chicago Gym Pod locations.
- Designed, built, and implemented BOLD’s in-pod tech platform, allowing Gym Pod users to interact with previously recorded fitness content from top trainers in the U.S. and stream content/music from personal devices to BOLD’s monitors and speakers.
- Grew hourly bookings at BOLD’s Chicago Gym Pods by 10x within three months of launch. Achieved over 3,000 pod bookings, over $20,000 in annualized run-rate adjusted EBITDA, and nearly $100,000 in annualized revenue within the first eight months of operations.
Head of Finance, Operations, and Business Development
NowPow
- Led NowPow’s finance, operations, and business development departments, reporting directly to the company’s CEO, overseeing a double-digit team of direct reports, supporting fundraising, finance, accounting, partnerships, IT, investor relations, and FP&A.
- Successfully designed and implemented companywide standard operating procedures, including automated AR/AP management, FP&A modeling, KPI dashboarding, and customer contract management.
- Successfully designed and implemented investor/strategic partnership evaluations, sales commission design and administration, customer pricing automation, employee benefits administration, etc.
- Led the company to double the monthly recurring revenue (MRR) and user growth while scaling internally from 50 to 100+ employees.
- Oversaw month-end financial close process in accordance with U.S. GAAP-based accrual accounting standards.
- Led the company’s fundraising and investor relations activities, serving as a point of contact for investors representing dilutive and non-dilutive capital. Successfully raised $5 million of external capital, maintaining banking and lender relationships.
- Oversaw facilities, IT, and FF&E management, asset tracking, commercial leases, enterprise contract negotiations, etc.
- Successfully led the company through two external audits, with 100% positive feedback and no material accounting deficiencies.
Hedge Fund Analyst/Investor
Melvin Capital
- Generated original equity investment theses and memoranda via comprehensive three-statement financial modeling and rigorous due diligence on prospective opportunities, primarily in the consumer staples sectors (food and beverage).
- Was highly proficient in tracking, analyzing, and reporting weekly consumer-level IRI and 1010 scanner data.
- Skilled in corporate finance and financial modeling, including three-statement forecasting, M&A modeling, LBO analyses, etc. Also had a high degree of competency with GAAP and Non-GAAP financial statements/accounting methodologies.
- Had extensive experience with numerous financial tools and platforms, including Bloomberg, BamSEC, FactSet, and Macabacus.
- Interviewed C-suite executives/managers of large-cap, publicly traded companies to perform more robust financial due diligence on strategic business, financial forecast, and so on.
Investment Banker
Bank of America Merrill Lynch
- Specialized early in covering banks and specialty finance sectors within BofA’s Financial Institutions Investment Banking Group.
- Had significant experience with transactional and intrinsic valuation methodologies, including M&A, leveraged buyout, discounted cash flow, and dividend discounted modeling.
- Was proficient in creating and analyzing trading, operating, and precedent transaction comparables customized for banks and specialty finance companies of all asset sizes and ranges.
- Experienced directly the full suite of financial products, including debt and equity offering execution, M&A advisory services, associated legal and administrative duties (i.e., creating investor presentations, drafting regulatory and legal memoranda, etc.).
- Involved heavily in BofA’s Yale campus recruiting effort; Appointed “Junior Captain” of Yale’s recruiting team and organized/led over 30 student-office visits for prospective investment banking candidates.
- Was the joint bookrunner for First Bancorp’s $116 Million follow-on equity offering: the sole analyst who worked with management on the company’s follow-on public equity offering, analyzing pro-forma impact on key regulatory capital ratios and valuation multiples.
- Acted as the financial advisor to SMBC Rail Services on a $3.4 billion acquisition of American Railcar Leasing from Icahn Enterprises: constructed 40,000 railcar appraisal model for prospective purchase, evaluating the impact of cash flow scenarios on fleet value.
Education
Bachelor's Degree in Economics
Yale University - New Haven, CT, USA
Certifications
Series 63
FINRA | Financial Industry Regulatory Authority
Series 79
FINRA | Financial Industry Regulatory Authority
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