SAN FRANCISCO, July 10, 2017 /PRNewswire/ -- JLL (NYSE:JLL) today announced a significant addition to its extensive
proptech capabilities with the launch of JLL Spark, a global business that will identify and deliver new technology-driven real
estate service offerings. JLL Spark will be led by co-CEOs Mihir Shah and Yishai Lerner who have successful, broad-based track records of founding, managing and investing in profitable
technology businesses.
JLL Spark will ensure that JLL and its clients benefit from technology-driven transformation by building a team that will
create new products, make strategic investments and incubate proptech startups.
JLL CEO Christian Ulbrich said: "Today's launch will accelerate JLL's drive to be the clear
global leader in digital real estate services. Combining Mihir's and Yishai's digital business expertise and record of
successes with JLL's leading global and deep market knowledge will allow us to introduce even more digital tools and data
insights to help our clients achieve their ambitions. With its entrepreneurial, start-up approach, JLL Spark will differentiate
JLL and lead our company and our clients into new solutions."
Technology's impact on the real estate industry is increasing exponentially. In 2015, $1.9
billion was invested in real estate technology companies around the world and that number rose 36 percent in 2016 to
$2.6 billion. As a leader in proptech, JLL has created advanced data analytics tools and acquired
software and technology integration companies like ATG, BRG and Corrigo. JLL Spark will extend and complement this already
strong platform.
Mihir Shah, co-CEO JLL Spark, said: "Just as technology is transforming many traditional
industries across the business world, such as transportation, the time is right to make change happen for real estate."
Yishai Lerner, co-CEO JLL Spark, added: "JLL's commitment to technology has already had a large
impact. By joining the company, we have an exciting opportunity to build an incredible team and help realize JLL's hunger and
aspirations for greater innovation."
Shah is a successful entrepreneur and seasoned product executive. He was most recently vice president and general manager of
mobile at Groupon, where he oversaw substantial and market-leading growth. Previously CEO and co-founder of Mob.ly (subsequently
acquired by Groupon), he has extensive Silicon Valley experience including early investments in start-ups such as Uber
and a senior role at Yahoo!
Lerner is an experienced product-driven technology executive. He was co-founder of several successful start-ups including
Mob.ly (acquired by Groupon), Detour and CarrierIQ (acquired by AT&T). He was also the first engineer at Core Mobility
(acquired by Smith Micro) and an early (angel) investor in tech companies such as Uber and Boom Supersonic.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real
estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their
business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and
completed sales acquisitions and finance transactions of approximately $136 billion. At the end of
the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more
than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0
billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle
Incorporated. For further information, visit www.jll.com.
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SOURCE JLL