Poshmark’s Secret Celebrity Investors: Ashton Kutcher, Rachel Zoe, More
Celebrity chef Michael Symon adds star power to Saint Martin’s gala
Follow Comments Following Comments Unfollow Comments In order to address the needs and wants of certain unique wealthy populations, multi-family offices are continually developing new operational structures. One example of this is the celebrity multi-family office, which is designed to meet the needs and wants of highly successful entertainers and athletes. Celebrities can especially benefit from the coordinated approach, characteristic of a multi-family office, explains Richard Flynn, principal with the Rothstein Kass family office group . Of course, the staff must be expert at overseeing the integration of investment management, advanced planning, private investment banking, business strategy, and related support services. While most high-profile successes appear to have a charmed life, there is usually an intense back-story filled with frustrations and anxieties that cannot be overlooked. Even when they have achieved levels of fame and fortune long sought in our culture, most celebrities find their status has its drawbacks. Were all familiar with the stories about bankruptcy and overspending in show business, says Hannah Shaw Grove, executive editor of Private Wealth magazine and principal of the boutique consultancy HSGrove . Most entertainers and celebrities have a limited window in which they can earn consistently high incomes, so they need a strong team of professionals around them to help protect and leverage their assets into something greater. Athletes dont fare much better. Every move an athlete makes is observed, analyzed, and frequently second-guessed by coaches, managers, teammates, fans, and members of the press. Since a great number of people and organizations, such as sports federations and commercial sponsors, rely on winning athletes to generate revenue, its understandable that most athletes feel the pressure and are afraid of failure. Celebrities seeking a financial advisory relationship are increasingly attracted to the multi-family office model, which integrates select core aspects of a business managers job with a broad array of financial and legal expertise. According to Miguel Forbes , vice chairman of the Forbes Family Trust, Successful entertainers and athletes are turning to multi-family offices, who can help them navigate their financial worlds and are nimble enough to offer business strategy and support services specific to them. Celebrity multi-family offices offer a broad array of expertise, including advanced planning, which is a suite of cutting-edge services that help wealthy individuals and families structure their assets to be as tax-effective and secure as possible. According to Frank Seneco, president of Seneco & Associates , The ability of entertainers, for example, to leverage their loan-out corporations can prove extremely profitable. Advisors in multi-family offices can also offer business strategy and support, handling licensing agreements or business ventures with the celebrities names attached and helping them capitalize on their success to generate significant monies. All too often, less knowledgeable advisors will let celebrities not well versed in these areas dive into business deals with a very limited chance of success. When celebrities call on advisors to develop a business model, it means the advisors must go beyond the role of a traditional multi-family office, business manager, or management consultant, because theyre tackling the clients financial and tax issues all along the way, explains Flynn.
Ship review: Celebrity Cruises’ Celebrity Reflection
Unlike your startup, Poshmark didnt want to yell names like major fashion icon and reality star Rachel Zoe; Madonna managerGuy Oseary; or actor and investor Ashton Kutcher (who all contributed to Poshmarks second round of funding) from the roof tops. Because thats just cheesy, and Poshmark wanted to prove itself outside the fame. DFree/Shutterstock Ashton Kutcher We wanted to build our marketplace organically without the public help of celebrity investors, Poshmark chief executive Manish Chandra told VentureBeat. The timing of announcing celebrity investors is a big question startups should ask themselves. Poshmarks app lets its mostly female userbase set up shops to sell clothing, accessories, and shoes. People can buy from these shops at any time, but Poshmark sets up special, daily Posh Parties, or themed virtual-selling events. The company then takes a cut of the transaction. Some women have made over $100,000 selling through the app and have started Poshmark-based businesses. Joe Seer/Shutterstock Rachel Zoe can we talk about how cute she and Kutcher look with their matching bucket hats and sunglasses? The company suspects that over $350 million worth of inventory will be uploaded to the app by the end of the year, though it wont give out specifics on how much has been sold or revenue figures. This weekend in Las Vegas, Poshmark will hold its first Poshfest, a weekend-long event to encourage its community. Rachel Zoe will introduce herself as an investor to the community at that time through a special video. Chandra sees Poshfest as a turning point for his company. Up until now he has spent energy on getting his users addicted to an app that really does give back. But with the celebrity endorsements out there, Poshmark may soon earn more celebrity of its own. We plan to build a significant independent company, Chandra said after we asked if he had plans to take the company to an initial public offering.
What Is A Celebrity Multi-Family Office?
4 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Ship review: Celebrity Cruises’ Celebrity Reflection Cruise Log Gene Sloan, USA TODAY 1:25 p.m. EDT October 14, 2013 The exterior of the Celebrity Reflection, the fifth and final ship in the Solstice Class line that began in 2008. Michael Wessels The exterior of the Celebrity Reflection, the fifth and final ship in the Solstice Class line. The ship made her North American debut on Dec. 1 with a sailing out of Miami. Michael Wessels The outdoor pool on Deck 14 has a pool bar, two pools, and Jacuzzis. Chairs were added to the deck of the Reflection to accommodate more guests. Nancy Trejos, USA TODAY An extra 245 loungers were added to the expanded pool deck to accommodate more than 1,000 additional guests than the Reflection’s predecessors in the Solstice line have had. Nancy Trejos, USA TODAY The Pool Bar is located on Deck 14. Nancy Trejos, USA TODAY Weather permitting, the Mast Grill on Deck 15 is a casual dining spot where guests can have grilled specialties while overlooking the pool. Nancy Trejos, USA TODAY Guests take a Zumba class by the outdoor pool on Deck 14. Nancy Trejos, USA TODAY The iLounge has 22 computers that guests can use to surf the Internet. The lounge is also a licensed Apple reseller, one of the first at sea. Nancy Trejos, USA TODAY The expanded Aqua Spa offers a wide range of services including massages, 24K gold facials, and a full Medi-Spa where guests can get acupuncture and other treatments. Nancy Trejos, USA TODAY The enhanced AquaSpa by Elemis has a number of specialty areas such as a hammam, infrared sauna, steam rooms, and sensory showers. Nancy Trejos, USA TODAY A treatment room at the AquaSpa where guests can get a variety of types of massages including a bamboo massage. Therapists experiment with lights and scents to help create different moods. Nancy Trejos, USA TODAY The AquaSpa has an expanded 883 square-foot Persian Garden with six more curved, heated tiled beds. Nancy Trejos, USA TODAY The cold room at the AquaSpa is kept at 52 degrees F to tighten pores that were opened and cleansed in the infrared sauna or aromatic steam room. Nancy Trejos, USA TODAY Guests can get manicures, pedicures and haircuts in the salon. Nancy Trejos, USA TODAY A state-of-the art fitness facility features cardio machines, spinning studios, and private workout areas. Classes and bootcamps are also available. Nancy Trejos, USA TODAY The fitness center is equipped with TechnoGym equipment that is available for trial and purchase. Nancy Trejos, USA TODAY The fitness center has been expanded to include four new studios. Personal training sessions are also available. Nancy Trejos, USA TODAY Guests who don’t want to swim outdoors have the option of swimming in the indoor pool. Nancy Trejos, USA TODAY Deck 14 has whimsical seating such as this cushioned hammock by the pool. Nancy Trejos, USA TODAY The Sky Observation Lounge is one of more than a dozen drinking establishments on the Reflection. Nancy Trejos, USA TODAY By day, the Sky Observation Lounge is a place to relax over a cocktail. At night, the dance floor gets packed. Nancy Trejos, USA TODAY The Sky Observation Lounge offers expansive views from Deck 14. Nancy Trejos, USA TODAY Oceanview Cafe on Deck 14 gives guests the options of a buffet meal for breakfast, lunch and dinner. Nancy Trejos, USA TODAY Oceanview Cafe has buffet-style dining in an indoor and outdoor setting for 885 people. Nancy Trejos, USA TODAY Guests have a variety of options at the buffet-style Oceanview Cafe, including complimentary pasta, pizza, soups, sandwiches, sushi, salad, and frozen yogurt. Nancy Trejos, USA TODAY Cafe al Bacio offers pastries and specialty coffees and seats 54. Nancy Trejos Cafe Gelateria offers an assortment of traditional gelatos. Nancy Trejos Live music is played at the low-key Ensemble Lounge on Deck 5. Nancy Trejos The Ensemble Lounge has comfortable seating for pre- or after-dinner drinks. Nancy Trejos Qsine is one of the specialty restaurants and seats 90 people. Nancy Trejos Qsine, a specialty restaurant, has an eclectic menu that includes lobster and escargot fritters and sushi lollipops. Nancy Trejos Qsine, a specialty restaurant, has whimsical items such as chocolate-covered strawberry lollipops. Nancy Trejos Qsine, a specialty restaurant, seats 90 people. Nancy Trejos Tuscan Grille is another specialty restaurant that offers Italian cuisine and steaks and seats 144 people. Nancy Trejos Tuscan Grille is another specialty restaurant that offers Italian cuisine and steaks and seats 144 people. Nancy Trejos Murano, one of five specialty restaurants on the Reflection, offers modern Continental cuisine. Nancy Trejos Murano offers items such as lobster bisque, caviar, lobster and duck breast. Nancy Trejos Murano, a specialty restaurant that seats 76 people, has an extensive wine collection. Nancy Trejos Bistro on Five is Celebrity’s creperie, with tableside service for lunch and dinner. Nancy Trejos Bistro on Five, a creperie, seats 72. Nancy Trejos Bistro on Five, a 72-seat creperie. Nancy Trejos Bistro on Five, a 72-seat creperie. Nancy Trejos Blu is Celebrity’s healthy food eatery designed for guests in AquaClass suites. Elizabeth Ashwell Blu, a specialty restaurant designed for AquaClass guests, seats 152. Elizabeth Ashwell Molecular bar is one of more than a dozen drinking establishments on the ship. It is located on Deck 5. Nancy Trejos Martini Bar & Crush on Deck 4 is a popular pre- and post-dinner bar. Elizabeth Ashwell Martini Bar & Crush on Deck 4 is a popular pre- and post-dinner bar. Elizabeth Ashwell Martini Bar & Crush has an ice bar. Elizabeth Ashwell The Sunset Bar is located in the aft of the ship. Nancy Trejos The Sunset Bar is located in the aft of the ship. Elizabeth Ashwell The Sunset Bar is located in the aft of the ship. Elizabeth Ashwell There are eight private cabana-style alcoves on the Lawn Club on Deck 15 that are available for a daily fee. Elizabeth Ashwell The Lawn Club is a half-acre of manicured, real grass on the top of the ship. Guests can play bocce ball or croquet on the lawn. Elizabeth Ashwell Oversized lawn chairs are located on the Lawn Club. Elizabeth Ashwell The Lawn Club is a half-acre of manicured, real grass on the top of the ship.
Hes Michael Symon , the Cleveland-based James Beard Award winner and Iron Chef who has been on a bunch of Food Channel and Cooking Network shows, as well as co-hosting ABCs lifestyle series The Chew. At Saint Martins on Nov. 2, Symon will prepare dishes for and personally serve a $35,000 table of eight to 10 guests. Bon Appetit Management staffers will create Symons menu for about 600 other guests, who will pay $3,500 or more per table, or $400 for individual tickets. Celebrity chefs have been good for the Saint Martins fundraiser, which also includes some fetching food-related live auction items. Last year, with Guy Fieri cooking, the gala raised nearly $760,000. In 2011, with Mario Batali , it raised $607,634. That was more than four times the amount raised at the first gala, in 2006, when there was no big-name chef involved. Symon is a Cleveland native with Greek and Sicilian roots. The Puget Sound Business Journal caught up with him via email for a little Q&A. How did you get this gig? Do you have some connection with Saint Martin’s? I have a close relationship with Mario Batali and his father Armando (proprietor of Salumi in Seattles Pioneer Square neighborhood). Things just worked out with my schedule that I was able to participate this year. What do you plan to prepare? Several items from my cookbooks, including a shaved fennel and grapefruit salad, braised lamb necks with seared mushrooms topped with shaved Brussels sprouts, and my mom’s baklava.