TheStreet.com

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TheStreet, Inc.
TheStreet.com
Type of businessSubsidiary
Founded1996; 23 years ago (1996)
Headquarters14 Wall Street
New York City, New York, United States
Founder(s)James Cramer
Marty Peretz
Key peopleLarry Kramer, Chairman
David Callaway, CEO
Jerry Kronenberg, Managing Editor
Eric Lundberg, CFO
IndustryPublishing
ProductsFinancial literacy website
Employees800 (2015)
ParentTheMaven
Websitewww.thestreet.com

TheStreet.com is a financial news and financial literacy website. It is a subsidiary of TheMaven.

Content[edit]

TheStreet's features include: The Five Dumbest Things on Wall Street This Week; Street Whispers, and The Digital Skeptic.

Jim Cramer is the company's most notable commentator. Other contributors include Adam Feuerstein and Doug Kass. Former contributors include Aaron Task, Alix Steel, Dave Kansas, Herb Greenberg, and Brett Arends.

In addition to news and financial analysis, TheStreet, Inc. also provides subscription investor services including RealMoney RealMoney Pro, Breakout Stocks, Stocks Under $10, OptionsProfits, Chat on TheStreet, The Daily Swing Trade, Top Stocks, TheStreet Ratings[1] and Action Alerts Plus,[2] run by Jack Mohr.[3]

TheStreet.com Personal Finance[edit]

TheStreet.com Personal Finance is an online financial magazine and news website by TheStreet.com, directed toward mainstream America and presupposing a very limited financial knowledge (unlike TheStreet.com). In addition to news, features and articles, TheStreet.com Personal Finance features consumer reports and investing advice. Users who have trouble engaging with TheStreet.com, because of the terminology and assumed knowledge, tend to find TheStreet.com Personal Finance much more accessible, since it is written for the average layperson who does not have an in-depth understanding of Wall Street. TheStreet.com Personal Finance covers all sectors of business and daily life from business to fashion. TheStreet.com Personal Finance headquarters is located in the New York metropolitan area.[4]

Real Money[edit]

Real Money is a financial services site. It is one of the first sites to incorporate both investment ideas as well as social networking. This community, known as the Stock Idea Network, combines insight from professional investors as well as community members. Users are able to share, debate, and otherwise discuss information and ideas related to finance on the site's message boards, which are frequented by financial professionals. It was named one of Time.com's 50 best websites in 2007. There are an estimated 150,000-plus user-generated portfolios, as well as portfolios of professional finance professionals on the site.[5]

History[edit]

TheStreet, Inc., (formerly, TheStreet.com, Inc.) was co-founded in 1996 by Jim Cramer and Marty Peretz. It became a public company via an initial public offering in May 1999[6] under the direction of past Chairman and Chief Executive Officer Kevin English and former Chief Financial Officer Paul Kothari.[7][8]

Under the direction of Thomas J. Clarke, Jr., TheStreet's former chairman and CEO, the company reported its first annual profit in 2005. Jim Cramer became chairman in October 2008 and served in that capacity until 2011.[9]

Daryl Otte, a long-time company director, became CEO in May 2009 after the resignation of the former CEO, Thomas Clarke. Otte is the founding partner of Montefiore Partners, a venture capital investment fund management firm, and a former executive at media company Ziff Davis/[10][11][12]

On March 7, 2012, Elisabeth DeMarse was hired as CEO and president, replacing outgoing CEO Daryl Otte.[13][14]

In April 2007, the company acquired Stockpickr.com.[15]

In November 2007, the company acquired BankingMyWay and RateWatch.[16]

In 2008, the company acquired a 13% stake in Geezeo.com, a Boston-based online management tool, with an option to purchase the entire company.[17]

Dave Kansas became editor-in-chief in April 1997. Kansas also opened a San Francisco bureau and was a member of the board of directors.[18]

In July 2001, David J. Morrow, a former reporter for The New York Times, joined TheStreet, Inc. as its editor-in-chief upon Kansas's departure. Glenn Hall, a former news manager at Freedom Communications (The Orange County Register) and Bloomberg News, replaced Morrow in August 2009.[10] William Inman, former Bloomberg News Editor, replaced Glenn Hall as Editor-in-Chief in March 2012.[19] Janet Guyon, from Fortune, The Wall Street Journal, Bloomberg and Investopedia replaced William Inman in April 2014.[20]

In August 2007, the company acquired Corsis, including Promotions.com for $20.7 million. It was sold to management for $3.1 million in December 2009. Executives of the company were later accused of inflating revenues and paid penalties to the U.S. Securities and Exchange Commission.[21][22]

In 2008, the company launched its first mobile app, for the BlackBerry.[23] The Blackberry version was mentioned as "Official Honoree" for the Mobile Applications category of the 2009 Webby Awards,[24] and, together with the iPhone version, won the 2008 "Creative Use of Online" award by the Society of American Business Editors and Writers (SABEW).[25]

In September 2010, the company launched a mobile website, TheStreet.mobi.[26]

In 1999, at the peak of the dot-com bubble, the market capitalization of the company was $1.7 billion.[27]

In September 2012, the company acquired The Deal LLC, a media company that covers mergers and acquisitions.[28] The site was sold in February 2019.[29]

In April 2013, TheStreet Inc. acquired The DealFlow Report and The Life Settlements Report financial newsletters and the PrivateRaise database from DealFlow Media Inc. The DealFlow Report covers microcap stocks, including initial public offerings and private placements, while The Life Settlements Report focuses on life insurance settlements.[30][31]

In November 2014, the company acquired BoardEx for $22.5 million.[32]

In June 2018, the company sold Rate Watch to S&P Global for $33.5 million.[33][34]

In August 2019, TheMaven acquired the company for $16.5 million.[35]

See also[edit]

References[edit]

  1. ^ "TheStreet homepage". TheStreet.
  2. ^ "Subscribe to Action Alerts Plus". TheStreet.com.
  3. ^ "Jim Cramer's Charitable Trust Gets New Portfolio Manager". newslook.com. 2015. Archived from the original on 2015-12-08.
  4. ^ "TheStreet.com Personal Finance". TheStreet.com Personal Finance.
  5. ^ "Real Money". Real Money.
  6. ^ SEITZ, PATRICK (March 9, 2015). "10 relics of the dot-com era trading well below their old highs". Investor's Business Daily.
  7. ^ Rewick, Jennifer L. (April 3, 2000). "TheStreet.com Stock Swoons As Financial Chief Departs". The Wall Street Journal.
  8. ^ Gamerman, Ellen (July 21, 2000). "Wall Street bullish on nation's future". The Baltimore Sun.
  9. ^ "TheStreet.com Posts Loss, Names Jim Cramer Board Chairman". TheStreet.com. October 29, 2008.
  10. ^ a b Potkewitz, Hilary (March 13, 2009). "Street.com CEO quits after Cramer's TV flameout". Crain Communications.
  11. ^ "TheStreet.com Appoints Daryl Otte New Chief Executive Officer" (Press release). Business Wire. May 19, 2009.
  12. ^ "TheStreet.com Names Daryl Otte CEO". TheStreet.com. May 19, 2009.
  13. ^ "Elisabeth DeMarse Named CEO and President of TheStreet" (Press release). PR Newswire. March 7, 2012.
  14. ^ Baron, Michael (March 7, 2012). "TheStreet Hires Elisabeth DeMarse as CEO". TheStreet.com.
  15. ^ "TheStreet.com Acquires Stockpickr.com" (Press release). Business Wire. April 25, 2007.
  16. ^ "TheStreet.com Acquires BankingMyWay and RateWatch to Provide Best Bank Rates Online" (Press release). Business Wire. November 2, 2007.
  17. ^ "TheStreet.com Invests in Geezeo". TheStreet.com. April 24, 2008.
  18. ^ "TheStreet.com Guide to Smart Investing". TheStreet.com.
  19. ^ "William Inman Named Editor-in-Chief of TheStreet" (Press release). GlobeNewswire. March 14, 2012.
  20. ^ "Janet Lynne Guyon Appointed as Editor in Chief of TheStreet.com" (Press release). PR Newswire. April 24, 2014.
  21. ^ "TheStreet.com Acquires Corsis, Including Promotions.com" (Press release). Business Wire. August 2, 2007.
  22. ^ McAuley, Erin (December 19, 2012). "TheStreet Deals With SEC on Accounting Fraud". Courthouse News Service.
  23. ^ McCandless, Bill (September 30, 2008). "BlackBerry App: TheStreet.com Goes Mobile". TheStreet.com.
  24. ^ "Mobile Honored by Webby Awards". TheStreet.com. April 14, 2009.
  25. ^ Ogasawara, Todd (March 25, 2009). "Congratulations to TheStreet.com: SABEW Winner for Creative Use of Online – TheStreet.com Mobile App". Adweek.
  26. ^ "TheStreet Launches TheStreet.mobi" (Press release). Business Wire. September 20, 2010.
  27. ^ "Activist urges Cramer to sell TheStreet". Financial Times. December 4, 2014.
  28. ^ Baron, Michael (September 12, 2012). "TheStreet Acquires The Deal for $5.8 Million". Thestreet.com.
  29. ^ "TheStreet, Inc. Completes Sale of its Institutional Business" (Press release). PR Newswire. February 14, 2019.
  30. ^ "TheStreet Acquires The DealFlow Report, The Life Settlements Report and PrivateRaise Database" (Press release). PR Newswire. April 22, 2013.
  31. ^ "TheStreet Acquires DealFlow Media". TheStreet.com. April 22, 2013.
  32. ^ "TheStreet Completes Acquisition of BoardEx" (Press release). PR Newswire. November 3, 2014.
  33. ^ "S&P Global to Acquire RateWatch" (Press release). PR Newswire. June 20, 2018.
  34. ^ "TheStreet Announces Sale of RateWatch to S&P Global for $33.5 million" (Press release). PR Newswire. June 20, 2018.
  35. ^ "Maven Closes Acquisition of TheStreet, New Jim Cramer Deal Announced" (Press release). Business Wire. August 8, 2019.