TheStreet: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
→‎theMaven/The Arena Group: this was clearly the wrong link (to a random sportscaster)
No edit summary
 
(27 intermediate revisions by 15 users not shown)
Line 1: Line 1:
{{Short description|US financial news and financial literacy website}}
{{Short description|US financial news and financial literacy website}}
{{Use mdy dates|date=February 2023}}
{{Infobox dot-com company
{{Infobox dot-com company
| name = TheStreet, Inc.
| name = TheStreet, Inc.
| logo = [[Image:The-Street Corporate-Logo black.jpg|200px|TheStreet.com]]
| logo = [[Image:The-Street Corporate-Logo black.jpg|200px|TheStreet.com]]
| company_type = [[Subsidiary]]
| company_type = [[Subsidiary]]
| foundation = {{start date and age|1996}}
| foundation = {{start date and age|1996}}
| location = [[New York City]], [[New York (state)|New York]], [[United States]]
| location = [[New York City]], U.S.
| founder = [[James Cramer]]<BR>[[Marty Peretz]]
| founder = [[Jim Cramer]]<BR>[[Marty Peretz]]
| key_people = Danny Peterson, [[Managing Editor]]<br>Joseph Woelfel, [[Managing Editor]]<br>Jill Marchisotto, [[Chief marketing officer|CMO]]
| key_people = {{ubl|Daniel Kline ([[Managing Editor]])|Jill Marchisotto ([[Chief marketing officer|CMO]])}}
| industry = [[Publishing]]
| industry = [[Publishing]]
| products = [[Financial literacy]] [[website]]
| products = [[Financial literacy]] [[website]]
| parent = [[The Arena Group]]
| parent = The Arena Group
| homepage = {{URL|https://www.thestreet.com/}}
| homepage = {{URL|https://www.thestreet.com/}}
}}
}}
'''''TheStreet''''' is a financial news and [[financial literacy]] website. It is a subsidiary of [[the Arena Group]]. The company provides both free content and subscription services such as Action Alerts Plus<ref>{{cite web | url=https://www.thestreet.com/staticFull/special-offers.html | title=TheStreet's Best Newsletters and Subscriptions for Stock Traders and Investors | publisher=TheStreet}}</ref><ref>{{cite web | url=https://subscription.thestreet.com/action-alerts-plus/ | title=Subscribe to Action Alerts Plus | publisher=TheStreet.com}}</ref> a stock recommendation portfolio co-managed by Bob Lang and Chris Versace.<ref>{{Cite web|url=https://www.thestreet.com/jim-cramer/live-video-oil-halliburton-and-earnings-14933086|title=What Investors Need to Know About Oil, Halliburton and Earnings|first=Daniel|last=Kuhn|website=TheStreet}}</ref>
'''TheStreet''' is a financial news and [[financial literacy]] website. It is a subsidiary of The Arena Group. The company provides both free content and [[subscription service]]s such as Action Alerts Plus,<ref>{{cite web | url=https://www.thestreet.com/staticFull/special-offers.html | title=TheStreet's Best Newsletters and Subscriptions for Stock Traders and Investors | publisher=TheStreet}}</ref><ref>{{cite web | url=https://subscription.thestreet.com/action-alerts-plus/ | title=Subscribe to Action Alerts Plus | publisher=TheStreet.com}}</ref> a stock recommendation portfolio co-managed by Bob Lang and Chris Versace.<ref>{{Cite web|url=https://www.thestreet.com/jim-cramer/live-video-oil-halliburton-and-earnings-14933086|title=What Investors Need to Know About Oil, Halliburton and Earnings|first=Daniel|last=Kuhn|website=TheStreet|date=April 22, 2019 }}</ref> ''TheStreet'' was founded by [[Marty Peretz]] and [[Jim Cramer]], and the site boasts numerous notable former contributors, including [[Aaron Task]], [[Herb Greenberg]], and [[Brett Arends]].<ref>{{Cite web|url=https://realmoney.thestreet.com/authors|title=RealMoney|website=realmoney.thestreet.com|date=July 14, 2023 }}</ref>

Former notable contributors include [[Jim Cramer]], [[Bob Powell]], [[Aaron Task]], [[Herb Greenberg]], and [[Brett Arends]].<ref>{{Cite web|url=https://realmoney.thestreet.com/authors|title=RealMoney|website=realmoney.thestreet.com}}</ref>


==History==
==History==
===20th century===
=== Early years: going public ===
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<ref>{{cite news | url=https://www.investors.com/news/technology/click/yahoo-cisco-verisign-microstrategy-below-their-dot-com-heyday/ | title=10 relics of the dot-com era trading well below their old highs | first=PATRICK | last=SEITZ | work=[[Investor's Business Daily]] | date=March 9, 2015}}</ref> under the direction of former CEO Kevin English and former CFO Paul Kothari.<ref>{{cite news | url=https://www.wsj.com/articles/SB954789658497182146 | title=TheStreet.com Stock Swoons As Financial Chief Departs | first=Jennifer L. | last=Rewick | work=[[The Wall Street Journal]] | date=April 3, 2000 | url-access=subscription}}</ref><ref>{{cite news | last=Gamerman | first=Ellen | url=https://www.baltimoresun.com/news/bs-xpm-2000-07-21-0007210044-story.html | title=Wall Street bullish on nation's future | work=[[The Baltimore Sun]] | date=July 21, 2000 | url-access=subscription}}</ref>
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<ref>{{cite news | url=https://www.investors.com/news/technology/click/yahoo-cisco-verisign-microstrategy-below-their-dot-com-heyday/ | title=10 relics of the dot-com era trading well below their old highs | first=PATRICK | last=SEITZ | work=[[Investor's Business Daily]] | date=March 9, 2015}}</ref> under the direction of former CEO Kevin English and former CFO Paul Kothari.<ref>{{cite news | url=https://www.wsj.com/articles/SB954789658497182146 | title=TheStreet.com Stock Swoons As Financial Chief Departs | first=Jennifer L. | last=Rewick | work=[[The Wall Street Journal]] | date=April 3, 2000 | url-access=subscription}}</ref><ref>{{cite news | last=Gamerman | first=Ellen | url=https://www.baltimoresun.com/news/bs-xpm-2000-07-21-0007210044-story.html | title=Wall Street bullish on nation's future | work=[[The Baltimore Sun]] | date=July 21, 2000 | url-access=subscription}}</ref>


[[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]].<ref>{{cite web | url=https://www.thestreet.com/tsc/tscbook/kansasexcerpt.html | title=TheStreet.com Guide to Smart Investing | website=TheStreet.com}}</ref>
[[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]].<ref>{{cite web | url=https://www.thestreet.com/tsc/tscbook/kansasexcerpt.html | title=TheStreet.com Guide to Smart Investing | website=TheStreet.com}}</ref>


In 1999, at the peak of the [[dot-com bubble]], the [[market capitalization]] of the company was $1.7 billion.<ref>{{cite news | url=https://www.ft.com/content/99f24d20-7b40-11e4-87d4-00144feabdc0 | title=Activist urges Cramer to sell TheStreet | work=[[Financial Times]] | date=December 4, 2014 | url-access=subscription}}</ref>
In 1999, at the peak of the [[dot-com bubble]], the [[market capitalization]] of the company was $1.7 billion.<ref>{{cite news | url=https://www.ft.com/content/99f24d20-7b40-11e4-87d4-00144feabdc0 | archive-url=https://web.archive.org/web/20200102183911/https://www.ft.com/content/99f24d20-7b40-11e4-87d4-00144feabdc0 | archive-date=January 2, 2020 | url-status=bot: unknown | title=Activist urges Cramer to sell TheStreet | work=[[Financial Times]] | date=December 4, 2014 | url-access=subscription | access-date=October 12, 2019 }}</ref>


===21st century===
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.<ref name=quits/> William Inman, former Bloomberg News Editor, replaced Glenn Hall as Editor-in-Chief in March 2012.<ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/william-inman-named-editor-chief-thestreet | title=William Inman Named Editor-in-Chief of TheStreet | publisher=[[GlobeNewswire]] | date=March 14, 2012}}</ref> Janet Guyon, from ''[[Fortune (magazine)|Fortune]],'' ''[[The Wall Street Journal]]'', Bloomberg and Investopedia replaced William Inman in April 2014.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/janet-lynne-guyon-appointed-as-editor-in-chief-of-thestreetcom-256558071.html | title=Janet Lynne Guyon Appointed as Editor in Chief of TheStreet.com | publisher=[[PR Newswire]] | date=April 24, 2014}}</ref>
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.<ref name=quits/> William Inman, former Bloomberg News Editor, replaced Glenn Hall as Editor-in-Chief in March 2012.<ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/william-inman-named-editor-chief-thestreet | title=William Inman Named Editor-in-Chief of TheStreet | publisher=[[GlobeNewswire]] | date=March 14, 2012}}</ref> Janet Guyon, from ''[[Fortune (magazine)|Fortune]],'' ''[[The Wall Street Journal]]'', Bloomberg, and Investopedia replaced William Inman in April 2014.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/janet-lynne-guyon-appointed-as-editor-in-chief-of-thestreetcom-256558071.html | title=Janet Lynne Guyon Appointed as Editor in Chief of TheStreet.com | publisher=[[PR Newswire]] | date=April 24, 2014}}</ref>


⚫
Under the direction of former chairman and CEO Thomas J. Clarke Jr., the company reported its first annual profit in 2005. Jim Cramer became chairman in October 2008, and served in that capacity until 2011.<ref>{{cite news | url=https://www.thestreet.com/story/10444933/1/thestreetcom-posts-loss-names-jim-cramer-board-chairman.html | title=TheStreet.com Posts Loss, Names Jim Cramer Board Chairman | work=TheStreet.com | date=October 29, 2008}}</ref>
=== Early 2000s: profitability and CEO changes ===
⚫
Under the direction of former chairman and CEO Thomas J. Clarke Jr., the company reported its first annual profit in 2005. Jim Cramer became chairman in October 2008 and served in that capacity until 2011.<ref>{{cite news | url=https://www.thestreet.com/story/10444933/1/thestreetcom-posts-loss-names-jim-cramer-board-chairman.html | title=TheStreet.com Posts Loss, Names Jim Cramer Board Chairman | work=TheStreet.com | date=October 29, 2008}}</ref>


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]].<ref name=quits>{{cite news | url=https://www.crainsnewyork.com/article/20090313/FREE/903139975/street-com-ceo-quits-after-cramer-s-tv-flameout | title=Street.com CEO quits after Cramer's TV flameout | first=Hilary | last=Potkewitz | work=[[Crain Communications]] | date=March 13, 2009}}</ref><ref>{{cite press release | url=http://pressroom.thestreet.com/news-releases/news-release-details/thestreetcom-appoints-daryl-otte-new-chief-executive-officer | title=TheStreet.com Appoints Daryl Otte New Chief Executive Officer | publisher=[[Business Wire]] | date=May 19, 2009}}</ref><ref>{{cite news | url=https://www.thestreet.com/story/10503217/1/thestreetcom-names-daryl-otte-ceo.html | title=TheStreet.com Names Daryl Otte CEO | work=TheStreet.com | date=May 19, 2009}}</ref>
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]].<ref name=quits>{{cite news | url=https://www.crainsnewyork.com/article/20090313/FREE/903139975/street-com-ceo-quits-after-cramer-s-tv-flameout | title=Street.com CEO quits after Cramer's TV flameout | first=Hilary | last=Potkewitz | work=[[Crain Communications]] | date=March 13, 2009}}</ref><ref>{{cite press release | url=http://pressroom.thestreet.com/news-releases/news-release-details/thestreetcom-appoints-daryl-otte-new-chief-executive-officer | title=TheStreet.com Appoints Daryl Otte New Chief Executive Officer | publisher=[[Business Wire]] | date=May 19, 2009}}</ref><ref>{{cite news | url=https://www.thestreet.com/story/10503217/1/thestreetcom-names-daryl-otte-ceo.html | title=TheStreet.com Names Daryl Otte CEO | work=TheStreet.com | date=May 19, 2009}}</ref> On March 7, 2012, [[Elisabeth DeMarse]] was hired as CEO and president, replacing outgoing CEO Daryl Otte.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/elisabeth-demarse-named-ceo-and-president-of-thestreet-141800923.html | title=Elisabeth DeMarse Named CEO and President of TheStreet | publisher=[[PR Newswire]] | date=March 7, 2012}}</ref><ref>{{cite news | last=Baron | first=Michael | url=https://www.thestreet.com/story/11447556/1/thestreet-hires-elisabeth-demarse-as-ceo.html | title=TheStreet Hires Elisabeth DeMarse as CEO | work=TheStreet.com | date=March 7, 2012}}</ref>


⚫
In April 2007, the company acquired [[Stockpickr.com]].<ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/thestreetcom-acquires-stockpickrcom/ | title=TheStreet.com Acquires Stockpickr.com | publisher=[[Business Wire]] | date=April 25, 2007}}</ref>
On March 7, 2012, [[Elisabeth DeMarse]] was hired as CEO and president, replacing outgoing CEO Daryl Otte.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/elisabeth-demarse-named-ceo-and-president-of-thestreet-141800923.html | title=Elisabeth DeMarse Named CEO and President of TheStreet | publisher=[[PR Newswire]] | date=March 7, 2012}}</ref><ref>{{cite news | last=Baron | first=Michael | url=https://www.thestreet.com/story/11447556/1/thestreet-hires-elisabeth-demarse-as-ceo.html | title=TheStreet Hires Elisabeth DeMarse as CEO | work=TheStreet.com | date=March 7, 2012}}</ref>

=== 2007–2014: acquisitions ===
⚫
In April 2007, the company acquired [[Stockpickr.com]].<ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/thestreetcom-acquires-stockpickrcom/ | title=TheStreet.com Acquires Stockpickr.com | publisher=[[Business Wire]] | date=April 25, 2007}}</ref>

In November 2007, the company acquired BankingMyWay and RateWatch.<ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/thestreetcom-acquires-bankingmyway-and-ratewatch-provide-best/ | title=TheStreet.com Acquires BankingMyWay and RateWatch to Provide Best Bank Rates Online | publisher=[[Business Wire]] | date=November 2, 2007}}</ref>

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.<ref>{{cite news | url=https://www.thestreet.com/story/10413495/1/thestreetcom-invests-in-geezeo.html |title=TheStreet.com Invests in Geezeo | work=TheStreet.com | date=April 24, 2008}}</ref>


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]].<ref>{{cite press release | url=http://pressroom.thestreet.com/news-releases/news-release-details/thestreetcom-acquires-corsis-including-promotionscom/ | title=TheStreet.com Acquires Corsis, Including Promotions.com | publisher=[[Business Wire]] | date=August 2, 2007}}</ref><ref>{{cite news | url=https://www.courthousenews.com/thestreet-deals-with-sec-on-accounting-fraud/ | title=TheStreet Deals With SEC on Accounting Fraud | first=Erin | last=McAuley | work=[[Courthouse News Service]] | date=December 19, 2012}}</ref>
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]].<ref>{{cite press release | url=http://pressroom.thestreet.com/news-releases/news-release-details/thestreetcom-acquires-corsis-including-promotionscom/ | title=TheStreet.com Acquires Corsis, Including Promotions.com | publisher=[[Business Wire]] | date=August 2, 2007}}</ref><ref>{{cite news | url=https://www.courthousenews.com/thestreet-deals-with-sec-on-accounting-fraud/ | title=TheStreet Deals With SEC on Accounting Fraud | first=Erin | last=McAuley | work=[[Courthouse News Service]] | date=December 19, 2012}}</ref>


In September 2012, the company acquired The Deal LLC, a media company that covers mergers and acquisitions.<ref>{{cite news | url=https://www.thestreet.com/story/11697253/1/thestreet-acquires-the-deal-terms-undisclosed.html | first=Michael | last=Baron | title=TheStreet Acquires The Deal for $5.8 Million | work=Thestreet.com | date=September 12, 2012}}</ref> The site was sold in February 2019.<ref name="auto">{{cite press release | url=https://www.prnewswire.com/news-releases/thestreet-inc-completes-sale-of-its-institutional-business-300795660.html | title=TheStreet, Inc. Completes Sale of its Institutional Business | publisher=[[PR Newswire]] | date=February 14, 2019}}</ref>
In November 2007, the company acquired BankingMyWay and RateWatch.<ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/thestreetcom-acquires-bankingmyway-and-ratewatch-provide-best/ | title=TheStreet.com Acquires BankingMyWay and RateWatch to Provide Best Bank Rates Online | publisher=[[Business Wire]] | date=November 2, 2007}}</ref> 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.<ref>{{cite news | url=https://www.thestreet.com/story/10413495/1/thestreetcom-invests-in-geezeo.html |title=TheStreet.com Invests in Geezeo | work=TheStreet.com | date=April 24, 2008}}</ref>


In April 2013, TheStreet Inc. acquired financial newsletters ''The DealFlow Report'', which covers [[microcap stock]]s, including [[initial public offering]]s and [[private placement]]s, and ''The Life Settlements Report'', which focuses on [[life insurance]] settlements, as well as the PrivateRaise database.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/thestreet-acquires-the-dealflow-report-the-life-settlements-report-and-privateraise-database-204078431.html | title=TheStreet Acquires The DealFlow Report, The Life Settlements Report and PrivateRaise Database | publisher=[[PR Newswire]] | date=April 22, 2013}}</ref><ref>{{cite news | url=https://www.thestreet.com/story/11901938/1/thestreet-acquires-dealflow-media.html | title=TheStreet Acquires DealFlow Media | work=TheStreet.com | date=April 22, 2013}}</ref>
In September 2012, the company acquired The Deal LLC, a media company that covers mergers and acquisitions.<ref>{{cite news |title=TheStreet buys mergers and acquisitions publication The Deal |url=https://www.reuters.com/article/us-thestreet-thedeal/thestreet-buys-mergers-and-acquisitions-publication-the-deal-idINBRE88B11A20120912 |website=Reuters |date=September 12, 2012 |access-date=15 February 2023}}</ref><ref>{{cite news | url=https://www.thestreet.com/story/11697253/1/thestreet-acquires-the-deal-terms-undisclosed.html | first=Michael | last=Baron | title=TheStreet Acquires The Deal for $5.8 Million | work=Thestreet.com | date=September 12, 2012}}</ref> The site was sold in February 2019.<ref name="auto">{{cite press release | url=https://www.prnewswire.com/news-releases/thestreet-inc-completes-sale-of-its-institutional-business-300795660.html | title=TheStreet, Inc. Completes Sale of its Institutional Business | publisher=[[PR Newswire]] | date=February 14, 2019}}</ref> In April 2013, TheStreet Inc. acquired financial newsletters ''The DealFlow Report'', which covers [[microcap stock]]s, including [[initial public offering]]s and [[private placement]]s, and ''The Life Settlements Report'', which focuses on [[life insurance]] settlements, as well as the PrivateRaise database.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/thestreet-acquires-the-dealflow-report-the-life-settlements-report-and-privateraise-database-204078431.html | title=TheStreet Acquires The DealFlow Report, The Life Settlements Report and PrivateRaise Database | publisher=[[PR Newswire]] | date=April 22, 2013}}</ref><ref>{{cite news | url=https://www.thestreet.com/story/11901938/1/thestreet-acquires-dealflow-media.html | title=TheStreet Acquires DealFlow Media | work=TheStreet.com | date=April 22, 2013}}</ref>


In November 2014, the company acquired [[BoardEx]] for $22.5 million.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/thestreet-completes-acquisition-of-boardex-281284841.html | title=TheStreet Completes Acquisition of BoardEx | publisher=[[PR Newswire]] | date=November 3, 2014}}</ref>
In November 2014, the company acquired [[BoardEx]] for $22.5 million.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/thestreet-completes-acquisition-of-boardex-281284841.html | title=TheStreet Completes Acquisition of BoardEx | publisher=[[PR Newswire]] | date=November 3, 2014}}</ref> [[BoardEx]] was sold in December 2018.<ref>{{cite news|title=TheStreet sells B2B business units to Euromoney for $87.3 million|url=https://www.reuters.com/article/us-thestreet-divestiture-euromoney-instn/thestreet-sells-b2b-business-units-to-euromoney-for-87-3-million-idUSKBN1O50SF |website=Reuters |date=December 6, 2018 |access-date=15 February 2023}}</ref>


⚫
In June 2016, [[David Callaway (journalist)|David Callaway]] left ''[[USA Today]]'' to become CEO of TheStreet.com.<ref>{{cite news | url=https://www.usatoday.com/story/money/2016/06/09/usa-today-editor-callaway-leaving-become-thestreet-ceo/85639878/ | title=USA TODAY editor Callaway leaving to become TheStreet CEO | first=Roger | last=Yu | work=[[USA Today]] | date=June 9, 2016}}</ref>
=== 2010s: pre-sale moves ===

⚫
In June 2016, [[David Callaway (journalist)|David Callaway]] left [[USA Today]] to become CEO of TheStreet.com.<ref>{{cite news | url=https://www.usatoday.com/story/money/2016/06/09/usa-today-editor-callaway-leaving-become-thestreet-ceo/85639878/ | title=USA TODAY editor Callaway leaving to become TheStreet CEO | first=Roger | last=Yu | work=[[USA Today]] | date=June 9, 2016}}</ref>


In June 2018, the company sold Rate Watch to [[S&P Global]] for $33.5 million.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/sp-global-to-acquire-ratewatch-300669397.html | title=S&P Global to Acquire RateWatch | publisher=[[PR Newswire]] | date=June 20, 2018}}</ref><ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/thestreet-announces-sale-ratewatch-sp-global-335-million-0 | title=TheStreet Announces Sale of RateWatch to S&P Global for $33.5 million | publisher=[[PR Newswire]] | date=June 20, 2018}}</ref>
In June 2018, the company sold Rate Watch to [[S&P Global]] for $33.5 million.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/sp-global-to-acquire-ratewatch-300669397.html | title=S&P Global to Acquire RateWatch | publisher=[[PR Newswire]] | date=June 20, 2018}}</ref><ref>{{cite press release | url=http://investor-relations.thestreet.com/news-releases/news-release-details/thestreet-announces-sale-ratewatch-sp-global-335-million-0 | title=TheStreet Announces Sale of RateWatch to S&P Global for $33.5 million | publisher=[[PR Newswire]] | date=June 20, 2018}}</ref>
Line 57: Line 47:
In February 2019, the company sold The Deal and BoardX for $87 million. [[David Callaway (journalist)|David Callaway]] left as CEO and was replaced by Eric Lundberg.<ref>{{cite news | url=https://www.thestreet.com/investing/thestreet-inc-closes-sale-of-thedeal-and-board-ex-14867083 | title=TheStreet Closes $87 Million Sale of TheDeal and BoardEx | work=TheStreet.com | date=February 14, 2019}}</ref><ref name="auto"/>
In February 2019, the company sold The Deal and BoardX for $87 million. [[David Callaway (journalist)|David Callaway]] left as CEO and was replaced by Eric Lundberg.<ref>{{cite news | url=https://www.thestreet.com/investing/thestreet-inc-closes-sale-of-thedeal-and-board-ex-14867083 | title=TheStreet Closes $87 Million Sale of TheDeal and BoardEx | work=TheStreet.com | date=February 14, 2019}}</ref><ref name="auto"/>


⚫
In August 2019, the Maven acquired the company for $16.5 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190808005215/en/Maven-Closes-Acquisition-TheStreet-New-Jim-Cramer | title=Maven Closes Acquisition of TheStreet, New Jim Cramer Deal Announced | publisher=[[Business Wire]] | date=August 8, 2019}}</ref> The company also partnered with ''[[Sports Illustrated]]'' Fantasy to launch Bull Market Fantasy with Jim Cramer, a channel offering insights, analysis and tips for winning [[fantasy sport]]s leagues.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190822005203/en/Jim-Cramer-TheStreet-Launch-Bull-Market-Fantasy | title=Jim Cramer and TheStreet Launch Bull Market Fantasy Channel on Maven | publisher=[[Business Wire]] | date=August 22, 2019}}</ref>
=== theMaven/The Arena Group ===


⚫
During the 2020 [[COVID-19 pandemic]], ''TheStreet'' received between $5 million and $10 million in federally backed small business loans from [[JPMorgan Chase Bank]] as part of the [[Paycheck Protection Program]]. The company stated the loans would allow it to retain 15 jobs.<ref name="proj_THES">{{Cite web |title=THESTREET, INC - Coronavirus Bailouts - ProPublica |last1=Syed |first1=Moiz |last2=Willis |first2=Derek |work=ProPublica |date=7 July 2020 |access-date=10 July 2020 |url= https://projects.propublica.org/coronavirus/bailouts/loans/thestreet-inc-f464282eef8db996e5a25333b82a480d}}</ref><ref name="wash_Owne">{{Cite news |title=Owner of TheStreet, Site Founded by Jim Cramer, Taps Small-Business Loans |author=Matt Townsend |newspaper=Washington Post |date=7 July 2020 |access-date=10 July 2020 |url= https://www.washingtonpost.com/business/on-small-business/owner-of-thestreet-site-founded-by-jim-cramer-taps-small-business-loans/2020/07/06/c1a16f2e-bfee-11ea-8908-68a2b9eae9e0_story.html}}</ref>
⚫
In August 2019, the Maven acquired the company for $16.5 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190808005215/en/Maven-Closes-Acquisition-TheStreet-New-Jim-Cramer | title=Maven Closes Acquisition of TheStreet, New Jim Cramer Deal Announced | publisher=[[Business Wire]] | date=August 8, 2019}}</ref> The company also partnered with [[Sports Illustrated]] Fantasy to launch Bull Market Fantasy with Jim Cramer, a channel offering insights, analysis and tips for winning [[fantasy sport]]s leagues.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190822005203/en/Jim-Cramer-TheStreet-Launch-Bull-Market-Fantasy | title=Jim Cramer and TheStreet Launch Bull Market Fantasy Channel on Maven | publisher=[[Business Wire]] | date=August 22, 2019}}</ref>


⚫
In 2021, theMaven rebranded itself as The Arena Group.<ref>{{Cite web |title=Maven Rebrands as The Arena Group, Expanding Business Strategy Around Consumer Media Verticals Anchored by Flagship Brands|work=BusinessWire |date=20 September 2021 |access-date=17 December 2021 |url= https://www.businesswire.com/news/home/20210920005835/en/Maven-Rebrands-as-The-Arena-Group-Expanding-Business-Strategy-Around-Consumer-Media-Verticals-Anchored-by-Flagship-Brands}}</ref>
⚫
During the 2020 [[COVID-19 pandemic]], ''TheStreet'' received between $5 million and $10 million in federally backed small business loans from [[JPMorgan Chase Bank]] as part of the [[Paycheck Protection Program]]. The company stated it would allow them to retain 15 jobs.<ref name="proj_THES">{{Cite web |title=THESTREET, INC - Coronavirus Bailouts - ProPublica |last1=Syed |first1=Moiz |last2=Willis |first2=Derek |work=ProPublica |access-date=10 July 2020 |url= https://projects.propublica.org/coronavirus/bailouts/loans/thestreet-inc-f464282eef8db996e5a25333b82a480d}}</ref><ref name="wash_Owne">{{Cite web |title=Owner of TheStreet, Site Founded by Jim Cramer, Taps Small-Business Loans |author=Matt Townsend |work=Washington Post |date=7 July 2020 |access-date=10 July 2020 |url= https://www.washingtonpost.com/business/on-small-business/owner-of-thestreet-site-founded-by-jim-cramer-taps-small-business-loans/2020/07/06/c1a16f2e-bfee-11ea-8908-68a2b9eae9e0_story.html}}</ref>

⚫
In 2021, theMaven rebranded itself as The Arena Group. <ref>{{Cite web |title=Maven Rebrands as The Arena Group, Expanding Business Strategy Around Consumer Media Verticals Anchored by Flagship Brands|work=BusinessWire |access-date=17 December 2021 |url= https://www.businesswire.com/news/home/20210920005835/en/Maven-Rebrands-as-The-Arena-Group-Expanding-Business-Strategy-Around-Consumer-Media-Verticals-Anchored-by-Flagship-Brands}}</ref>


==International activities==
==International activities==
In December 1999, TheStreet entered an agreement with the [[Israel]]i newspaper publisher ''[[Haaretz]]'', to invest $2.25 million in exchange for a 25% stake in ''[[TheMarker]]'', a new business news website in [[Hebrew]] and [[English language|English]]. According to the investment agreement, TheStreet.com published selected news and articles on Israeli technology companies from the ''TheMarker'' site, and in exchange ''TheMarker'' published selected news and articles from TheStreet.com.<ref>{{Cite web |url=https://sec.report/Document/0000912057-00-015191/ |title=Form 10-K Thestreet, Inc. 10-K - Annual report - Period Ending In: 1999-12-31 |access-date=December 16, 2021 |archive-date=December 16, 2021 |archive-url=https://web.archive.org/web/20211216120519/https://sec.report/Document/0000912057-00-015191/ |url-status=dead }}</ref> Following the burst of the [[dot-com bubble]], the investment in ''TheMarker'' was fully impaired.<ref>{{Cite web |url=https://sec.report/Document/0000912057-02-013120/ |title=Form 10-K Thestreet, Inc. 10-K - Annual report - Period Ending In: 2001-12-31 |access-date=December 16, 2021 |archive-date=December 16, 2021 |archive-url=https://web.archive.org/web/20211216120519/https://sec.report/Document/0000912057-02-013120/ |url-status=dead }}</ref>
===Israel===
In December 1999, TheStreet entered into an agreement with the [[Israel]]i newspaper publisher [[Haaretz]], to invest $2.25 million in
exchange for a 25% stake in [[TheMarker]], a new business news website in [[Hebrew]] and [[English language|English]]. According to the investment agreement, TheStreet.com published selected news and articles on Israeli technology companies from the TheMarker site, and in exchange TheMarker published selected news and articles from TheStreet.com.<ref> [https://sec.report/Document/0000912057-00-015191/ Form 10-K Thestreet, Inc. 10-K - Annual report - Period Ending In: 1999-12-31]</ref>

Following the bursting of the [[Dot-com bubble]] the investment in TheMarker was fully impaired.<ref>[https://sec.report/Document/0000912057-02-013120/ Form 10-K Thestreet, Inc. 10-K - Annual report - Period Ending In: 2001-12-31]</ref>


⚫
In February 2000, TheStreet launched a United Kingdom edition, thestreet.co.uk;<ref>{{Cite web|url=https://www.campaignlive.co.uk/article/thestreetcouk-launches-major-dotcom-campaign/44225|title=TheStreet.co.uk launches with major dotcom campaign|date=2000-02-15|website=Campaign}}</ref> nine months later, it closed in November 2000.<ref>{{Cite web|url=https://www.zdnet.com/article/thestreet-co-uk-shuts-its-doors-5000112063/|title=TheStreet.co.uk shuts its doors|date=2000-11-17|website=ZDnet|last=Matthew|first=Broersma}}</ref>
===United Kingdom===
⚫
In February 2000, TheStreet launched a UK edition (thestreet.co.uk);<ref>{{Cite web|url=https://www.campaignlive.co.uk/article/thestreetcouk-launches-major-dotcom-campaign/44225|title=TheStreet.co.uk launches with major dotcom campaign|date=2000-02-15|website=Campaign}}</ref> it closed less than a year later, in November 2000.<ref>{{Cite web|url=https://www.zdnet.com/article/thestreet-co-uk-shuts-its-doors-5000112063/|title=TheStreet.co.uk shuts its doors|date=2000-11-17|website=ZDnet|last=Matthew|first=Broersma}}</ref>


==References==
==References==
{{Reflist}}
{{Reflist|2}}


==External links==
==External links==
* {{official}}
* {{official}}

{{Finance links historical
{{Finance links historical
| name = TheStreet, Inc.
| name = TheStreet, Inc.
| sec_cik = 1080056
| sec_cik = 1080056
}}
}}

{{Authority control}}
{{Authority control}}


Line 91: Line 74:
[[Category:1999 initial public offerings]]
[[Category:1999 initial public offerings]]
[[Category:2019 mergers and acquisitions]]
[[Category:2019 mergers and acquisitions]]
⚫
[[Category:American financial news websites]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:Companies formerly listed on the Nasdaq]]
[[Category:Dot-com bubble]]
[[Category:Dot-com bubble]]
[[Category:Finance websites]]
[[Category:Internet properties established in 1996]]
[[Category:Internet properties established in 1996]]
[[Category:Online mass media companies of the United States]]
[[Category:Online mass media companies of the United States]]
⚫
[[Category:Finance websites]]

Latest revision as of 05:45, 15 April 2024

TheStreet, Inc.
TheStreet.com
Type of businessSubsidiary
Founded1996; 28 years ago (1996)
HeadquartersNew York City, U.S.
Founder(s)Jim Cramer
Marty Peretz
Key people
IndustryPublishing
ProductsFinancial literacy website
ParentThe Arena Group
URLwww.thestreet.com

TheStreet is a financial news and financial literacy website. It is a subsidiary of The Arena Group. The company provides both free content and subscription services such as Action Alerts Plus,[1][2] a stock recommendation portfolio co-managed by Bob Lang and Chris Versace.[3] TheStreet was founded by Marty Peretz and Jim Cramer, and the site boasts numerous notable former contributors, including Aaron Task, Herb Greenberg, and Brett Arends.[4]

History[edit]

20th century[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[5] under the direction of former CEO Kevin English and former CFO Paul Kothari.[6][7]

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.[8]

In 1999, at the peak of the dot-com bubble, the market capitalization of the company was $1.7 billion.[9]

21st century[edit]

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.[11] Janet Guyon, from Fortune, The Wall Street Journal, Bloomberg, and Investopedia replaced William Inman in April 2014.[12]

Under the direction of former chairman and CEO Thomas J. Clarke Jr., the company reported its first annual profit in 2005. Jim Cramer became chairman in October 2008, and served in that capacity until 2011.[13]

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][14][15] On March 7, 2012, Elisabeth DeMarse was hired as CEO and president, replacing outgoing CEO Daryl Otte.[16][17]

In April 2007, the company acquired Stockpickr.com.[18]

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.[19][20]

In November 2007, the company acquired BankingMyWay and RateWatch.[21] 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.[22]

In September 2012, the company acquired The Deal LLC, a media company that covers mergers and acquisitions.[23][24] The site was sold in February 2019.[25] In April 2013, TheStreet Inc. acquired financial newsletters The DealFlow Report, which covers microcap stocks, including initial public offerings and private placements, and The Life Settlements Report, which focuses on life insurance settlements, as well as the PrivateRaise database.[26][27]

In November 2014, the company acquired BoardEx for $22.5 million.[28] BoardEx was sold in December 2018.[29]

In June 2016, David Callaway left USA Today to become CEO of TheStreet.com.[30]

In June 2018, the company sold Rate Watch to S&P Global for $33.5 million.[31][32]

In February 2019, the company sold The Deal and BoardX for $87 million. David Callaway left as CEO and was replaced by Eric Lundberg.[33][25]

In August 2019, the Maven acquired the company for $16.5 million.[34] The company also partnered with Sports Illustrated Fantasy to launch Bull Market Fantasy with Jim Cramer, a channel offering insights, analysis and tips for winning fantasy sports leagues.[35]

During the 2020 COVID-19 pandemic, TheStreet received between $5 million and $10 million in federally backed small business loans from JPMorgan Chase Bank as part of the Paycheck Protection Program. The company stated the loans would allow it to retain 15 jobs.[36][37]

In 2021, theMaven rebranded itself as The Arena Group.[38]

International activities[edit]

In December 1999, TheStreet entered an agreement with the Israeli newspaper publisher Haaretz, to invest $2.25 million in exchange for a 25% stake in TheMarker, a new business news website in Hebrew and English. According to the investment agreement, TheStreet.com published selected news and articles on Israeli technology companies from the TheMarker site, and in exchange TheMarker published selected news and articles from TheStreet.com.[39] Following the burst of the dot-com bubble, the investment in TheMarker was fully impaired.[40]

In February 2000, TheStreet launched a United Kingdom edition, thestreet.co.uk;[41] nine months later, it closed in November 2000.[42]

References[edit]

  1. ^ "TheStreet's Best Newsletters and Subscriptions for Stock Traders and Investors". TheStreet.
  2. ^ "Subscribe to Action Alerts Plus". TheStreet.com.
  3. ^ Kuhn, Daniel (April 22, 2019). "What Investors Need to Know About Oil, Halliburton and Earnings". TheStreet.
  4. ^ "RealMoney". realmoney.thestreet.com. July 14, 2023.
  5. ^ SEITZ, PATRICK (March 9, 2015). "10 relics of the dot-com era trading well below their old highs". Investor's Business Daily.
  6. ^ Rewick, Jennifer L. (April 3, 2000). "TheStreet.com Stock Swoons As Financial Chief Departs". The Wall Street Journal.
  7. ^ Gamerman, Ellen (July 21, 2000). "Wall Street bullish on nation's future". The Baltimore Sun.
  8. ^ "TheStreet.com Guide to Smart Investing". TheStreet.com.
  9. ^ "Activist urges Cramer to sell TheStreet". Financial Times. December 4, 2014. Archived from the original on January 2, 2020. Retrieved October 12, 2019.{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  10. ^ a b Potkewitz, Hilary (March 13, 2009). "Street.com CEO quits after Cramer's TV flameout". Crain Communications.
  11. ^ "William Inman Named Editor-in-Chief of TheStreet" (Press release). GlobeNewswire. March 14, 2012.
  12. ^ "Janet Lynne Guyon Appointed as Editor in Chief of TheStreet.com" (Press release). PR Newswire. April 24, 2014.
  13. ^ "TheStreet.com Posts Loss, Names Jim Cramer Board Chairman". TheStreet.com. October 29, 2008.
  14. ^ "TheStreet.com Appoints Daryl Otte New Chief Executive Officer" (Press release). Business Wire. May 19, 2009.
  15. ^ "TheStreet.com Names Daryl Otte CEO". TheStreet.com. May 19, 2009.
  16. ^ "Elisabeth DeMarse Named CEO and President of TheStreet" (Press release). PR Newswire. March 7, 2012.
  17. ^ Baron, Michael (March 7, 2012). "TheStreet Hires Elisabeth DeMarse as CEO". TheStreet.com.
  18. ^ "TheStreet.com Acquires Stockpickr.com" (Press release). Business Wire. April 25, 2007.
  19. ^ "TheStreet.com Acquires Corsis, Including Promotions.com" (Press release). Business Wire. August 2, 2007.
  20. ^ McAuley, Erin (December 19, 2012). "TheStreet Deals With SEC on Accounting Fraud". Courthouse News Service.
  21. ^ "TheStreet.com Acquires BankingMyWay and RateWatch to Provide Best Bank Rates Online" (Press release). Business Wire. November 2, 2007.
  22. ^ "TheStreet.com Invests in Geezeo". TheStreet.com. April 24, 2008.
  23. ^ "TheStreet buys mergers and acquisitions publication The Deal". Reuters. September 12, 2012. Retrieved February 15, 2023.
  24. ^ Baron, Michael (September 12, 2012). "TheStreet Acquires The Deal for $5.8 Million". Thestreet.com.
  25. ^ a b "TheStreet, Inc. Completes Sale of its Institutional Business" (Press release). PR Newswire. February 14, 2019.
  26. ^ "TheStreet Acquires The DealFlow Report, The Life Settlements Report and PrivateRaise Database" (Press release). PR Newswire. April 22, 2013.
  27. ^ "TheStreet Acquires DealFlow Media". TheStreet.com. April 22, 2013.
  28. ^ "TheStreet Completes Acquisition of BoardEx" (Press release). PR Newswire. November 3, 2014.
  29. ^ "TheStreet sells B2B business units to Euromoney for $87.3 million". Reuters. December 6, 2018. Retrieved February 15, 2023.
  30. ^ Yu, Roger (June 9, 2016). "USA TODAY editor Callaway leaving to become TheStreet CEO". USA Today.
  31. ^ "S&P Global to Acquire RateWatch" (Press release). PR Newswire. June 20, 2018.
  32. ^ "TheStreet Announces Sale of RateWatch to S&P Global for $33.5 million" (Press release). PR Newswire. June 20, 2018.
  33. ^ "TheStreet Closes $87 Million Sale of TheDeal and BoardEx". TheStreet.com. February 14, 2019.
  34. ^ "Maven Closes Acquisition of TheStreet, New Jim Cramer Deal Announced" (Press release). Business Wire. August 8, 2019.
  35. ^ "Jim Cramer and TheStreet Launch Bull Market Fantasy Channel on Maven" (Press release). Business Wire. August 22, 2019.
  36. ^ Syed, Moiz; Willis, Derek (July 7, 2020). "THESTREET, INC - Coronavirus Bailouts - ProPublica". ProPublica. Retrieved July 10, 2020.
  37. ^ Matt Townsend (July 7, 2020). "Owner of TheStreet, Site Founded by Jim Cramer, Taps Small-Business Loans". Washington Post. Retrieved July 10, 2020.
  38. ^ "Maven Rebrands as The Arena Group, Expanding Business Strategy Around Consumer Media Verticals Anchored by Flagship Brands". BusinessWire. September 20, 2021. Retrieved December 17, 2021.
  39. ^ "Form 10-K Thestreet, Inc. 10-K - Annual report - Period Ending In: 1999-12-31". Archived from the original on December 16, 2021. Retrieved December 16, 2021.
  40. ^ "Form 10-K Thestreet, Inc. 10-K - Annual report - Period Ending In: 2001-12-31". Archived from the original on December 16, 2021. Retrieved December 16, 2021.
  41. ^ "TheStreet.co.uk launches with major dotcom campaign". Campaign. February 15, 2000.
  42. ^ Matthew, Broersma (November 17, 2000). "TheStreet.co.uk shuts its doors". ZDnet.

External links[edit]

    • Historical business data for TheStreet, Inc.:
    • SEC filings
Retrieved from "https://en.wikipedia.org/w/index.php?title=TheStreet&oldid=1219008731"