jews d in the o n the cove r Smile! From basement brainstorm to multi-million-dollar business. ADAM FINKEL CONTRIBUTING WRITER T he late Morrie Fenkell was described by Rabbi Levi Shemtov of Friendship Circle as an unforgettable man. The philanthropist and former chairman of Liberty State Bank & Trust was said to consider himself the most blessed and lucky man in the world, whether with family or standing in Rome, participating in an audience directly in front of Pope John Paul II. His legacy of devotion, selflessness and charity is not lost on his grandson, Alex Fenkell, who has had moments the past few years that have, too, been considered unforgettable, including a business he co-founded with his childhood friend Jordan Katzman being featured in Inc.’s 30 under 30 list and profiled in Forbes, valued at higher than $500 million at its most recently reported funding round in 2017 and even being included in the Grammy swag bag. The business with such meteoric growth was incu- bated just five years ago in Jordan’s mother Nancy Katzman’s Franklin basement. The business, SmileDirectClub (SDC), began in 2014 when Fenkell and Katzman started a company to sell teeth aligners directly to patients. In their words, the vision was to “democratize orthodontics.” The co-founders noticed how whitening products available via mainstream retail products signifi- cantly lowered the costs of expensive whitening treatments and believed more consumer-focused and cost-efficient solutions could be offered to cus- tomers desiring straighter teeth. To understand the scale of the business, sev- TOP: Alex Fenkell and Jordan Katzman. ABOVE: Fenkell and Draymond Green. eral metrics stand out. SmileDirectClub has around 2,400 employees, hundreds of thousands of customers, 70 retail locations spread throughout 30 states and plans to have 150 open by the end of 2018. Currently, of the hundreds of thou- sands of individuals who have undergone doctor-directed, at-home aligner therapy in the U.S., SmileDirectClub holds more than 90 percent share of that market. The company views its addressable market at nearly 75-100 million Americans. The company’s Facebook page has more than a quarter- million likes. The Glassdoor “company review” website lists more than 200 open positions for the business, which is now headquartered in Nashville, Tenn. And if you use Instagram, browse Facebook or have watched television over the last year (SmileDirectClub is one of the most prominent adver- tisers on both MSNBC and FOX), it’s quite likely you’ve seen their colorful advertisements on a screen near you. One recent national commercial, which often includes testimonials from young adults, showcases NBA champion athlete Michigan-native Draymond Green, a good friend of co-founder Fenkell and an early investor in the business. “A key factor in choosing where to invest is finding a company that shares my values, and Jordan and Alex bring the leadership, vision and a work ethic that I’m looking for,” Green says. “As a satisfied customer of SmileDirectClub, I strongly believe in the product and its growth potential.” The business is also expanding on the international front, with a growing number of employees based in Costa Rica. “From the Central Government, we are very happy to know that SmileDirect is betting on Costa Rica, with plans as ambitious as tripling its current payroll of 160 workers,” continued on page 44 42 June 7 • 2018 jn