October 6, 2017
Boston-based Thomas H. Lee Partners, L.P. closed the acquisition of a majority interest in Ten-X, LLC for reportedly more than $1 billion. Members of Ten-X’s senior management team, Stone Point Capital, and CapitalG (formerly Google Capital), among others, will continue to hold minority positions in the company.
Founded in 2007, Ten-X provides an online real estate marketplace that allows individuals and investors to buy and sell residential and CRE properties using both desktop and mobile channels. Since its inception, Ten-X has enabled more than $50 billion of residential and commercial property sales on its platform.
The recapitalization helps ensure Ten-X has the resources it needs to build its platform, pursue additional monetization opportunities, and execute on its growth objectives. The company plans to retain corporate HQ’s in Irvine and Silicon Valley, CA, and will continue to be led by CEO Tim Morse along with other members of its senior management team.
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