Ten-X Commercial lays off nearly half its workforce

first_imgClose to 100 employees were given notice on Monday morning (Credit: iStock)Ten-X Commercial, an online real estate transaction platform, laid off half its workforce after efforts to sell the company fell through.Close to 100 employees in offices in Texas, New York and California were given notice on Monday morning during a call with executives, according to people on the call and those familiar with the matter.Thomas H. Lee Partners, the private equity firm that owns Ten-X Commercial, has been trying to sell the company since the start of the year. CoStar Group had been in talks for a potential acquisition until recently, according to former Ten-X employees.Thomas H. Lee Partners declined to comment. Ten-X and CoStar did not respond to multiple requests for comment.Ten-X says that more than $50 billion in real estate transactions have been conducted through its marketplace. It was founded in 2007 as Auction.com, a residential real estate deal platform. In 2016, it launched a separate platform known as Ten-X Commercial, which provided a marketplace for commercial properties. Along the way, it received investments from multiple firms, including Barry Sternlicht’s Starwood Capital, Stone Point and CapitalG.In 2017, Thomas H. Lee Partners purchased a majority interest in Ten-X for close to $1.6 billion. The private equity firm quickly set about separating the two products — Auction.com and Ten-X Commercial — into siloed companies. Shortly after, Ten-X Commercial cut about 10 percent of its staff in early 2018.Since the private equity firm began marketing Ten-X earlier this year, it attracted multiple suitors, including Newmark Knight Frank. Newmark declined to comment. This content is for subscribers only.Subscribe Nowlast_img read more

High school girls basketball: Benton, Plain Dealing aim for second-round upsets

first_imgThe Benton Lady Tigers will be looking for their second straight upset when they take on the Salmen Lady Spartans in the second round of the Class 4A girls basketball playoffs Monday at Benton.Benton (18-14), the No. 25 seed, routed No. 8 Carencro 72-40 in the first round Thursday. Salmen (22-10), the No. 9 seed, defeated No. 24 Cecilia 69-43 in the first round.Plain Dealing (15-11), the No. 13 seed, travels to Lebeau to take on No. 4 North Central (27-5), which defeated No. 29 Logansport 77-46 in the first round. The Lady Lions knocked off No. 20 and District 1-1A rival Haynesville 57-52 in the first round.Tipoff for both games is 6 p.m.Salmen, the District 8-4 co-champion, has won nine in a row and 12 of its last 13. The Lady Spartans lost to Bossier in the first round last season.Benton played outstanding defense and got 27 points from Emily Ward and 22 from Qua Chambers in its first-round win.North Central, the District 5-1A champion, has won 11 in a row and 14 of its last 15. All five of the Lady Hurricanes’ losses were to teams in Class 3A over above. North Central reached the semifinals last season.Hershey Stumon led Plain Dealing in its first-round victory with 17 points. Laterrica Stewart added 14.— Russell Hedges, [email protected] Expat InsuranceExpat Living in Hong Kong without Health Insurance?Top Expat Insurance|SponsoredSponsoredUndoNews gadgetThis watch takes the whole country by storm! it’s price? Ridiculous!News gadget|SponsoredSponsoredUndoTheTopFiveVPNThe Secret Netflix Doesn’t Want You To Know To Unblock RestrictionsTheTopFiveVPN|SponsoredSponsoredUndoPerfect-Dating.comAre You Ready to Meet Cool Guys in Tung Chung?Perfect-Dating.com|SponsoredSponsoredUndoTheTopFiveVPNThe Trick Netflix Doesn’t Want You To Know To Unlock RestrictionsTheTopFiveVPN|SponsoredSponsoredUndoCelebsland.com9 Celebrity Before-And-After Plastic Surgery DisastersCelebsland.com|SponsoredSponsoredUndolast_img read more