Report: Jawbone Raises Over $100 Million
Jawbone is a private audio technology company based in San Francisco, California that develops wearable technology and portable audio devices like the JAMBOX and BIG JAMBOX wireless speakers.
According to Fortune, Jawbone has raised $93 million in debt financing. Around $43 million was given by Silver Lake and Fortress Investment Group through a specialized security put together by JPMorgan Chase & Co. The other $50 million was provided in the form of an asset-based loan provided by JPMorgan and Wells Fargo. This was secured against assets like inventory. Jawbone also had a credit facility with Wells Fargo.
Jawbone was founded by Alexander Asseily and Hosain Rahman, who met at Stanford University as undergraduates. The two of them founded Aliph, which is now known as Jawbone in 1999 to develop noise-canceling technology for the military.