''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 a stock recommendation portfolio co-managed by Bob Lang and Chris Versace. Former notable contributors include

Jim Cramer James Joseph Cramer (born February 10, 1955) is an American television personality and author. He is the host of ''Mad Money'' on CNBC and an anchor on ''Squawk on the Street''. A former hedge fund manager, founder, and senior partner of Crame ...

, Bob Powell,

Aaron Task Aaron Task is an American journalist and on-air host. From 2015 to 2016 he was Digital Editor of Fortune and the host of the podcast Fortune Unfiltered. From 2008 to 2015 he was Editor-in-Chief of Yahoo! Finance and the host of The Daily Ticker. In ...

Herb Greenberg Herb Greenberg (born June 8, 1952 in Miami, Florida) is an American journalist. Early life Greenberg graduated from the University of Miami with a bachelor's degree in journalism. Career Greenberg was a New York-based financial corresponde ...

, and

Brett Arends Brett Arends is an American journalist covering finance and investing. Since 2007, Arends has been a columnist for '' The Wall Street Journal'' (WSJ) and other Dow Jones publications, such as MarketWatch. He was a contributing editor and wrote a ...

History

Early years: going public

TheStreet, Inc., (formerly, TheStreet.com, Inc.) was co-founded in 1996 by

and

Marty Peretz Martin H. Peretz (; born December 6, 1938) is an American former magazine publisher and educator. Formerly an assistant professor at Harvard University, he purchased '' The New Republic'' in 1974 and assumed editorial control shortly afterwards. ...

. It became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

in May 1999 under the direction of former CEO Kevin English and former CFO Paul Kothari.

Dave Kansas David Kansas (born March 28, 1967) was the president of American Public Media until a restructuring in March 2022. He had also served as chief operating officer of American Public Media Group, a position he assumed in 2011. He was formerly an edito ...

became editor-in-chief in April 1997. Kansas also opened a San Francisco bureau and was a member of the

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit orga ...

. In 1999, at the peak of the

dot-com bubble The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Comp ...

, the

market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

of the company was $1.7 billion. In July 2001, David J. Morrow, a former reporter for ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'', 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 Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg T ...

, replaced Morrow in August 2009. William Inman, former Bloomberg News Editor, replaced Glenn Hall as Editor-in-Chief in March 2012. Janet Guyon, from ''

Fortune Fortune may refer to: General * Fortuna or Fortune, the Roman goddess of luck * Luck * Wealth * Fortune, a prediction made in fortune-telling * Fortune, in a fortune cookie Arts and entertainment Film and television * ''The Fortune'' (1931 film) ...

,'' ''

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'', Bloomberg and Investopedia replaced William Inman in April 2014.

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. 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 Ziff Davis, Inc. is an American digital media and internet company. First founded in 1927 by William Bernard Ziff Sr. and Bernard George Davis, the company primarily owns technology-oriented media websites, online shopping-related services, an ...

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

2007–2014: acquisitions

In April 2007, the company acquired Stockpickr.com. In November 2007, the company acquired BankingMyWay and RateWatch. 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. 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. In September 2012, the company acquired The Deal LLC, a media company that covers mergers and acquisitions. The site was sold in February 2019. In April 2013, TheStreet Inc. acquired financial newsletters ''The DealFlow Report'', which covers microcap stocks, including

s and

private placement Private placement (or non-public offering) is a funding round of securities which are sold not through a public offering, but rather through a private offering, mostly to a small number of chosen investors. Generally, these investors include fr ...

s, and ''The Life Settlements Report'', which focuses on

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the dea ...

settlements, as well as the PrivateRaise database. In November 2014, the company acquired BoardEx for $22.5 million.

2010s: pre-sale moves

In June 2016,

David Callaway David J. E. Callaway is a biological nanophysicist in the New York University School of Medicine, where he is Professor and Laboratory Director. He was trained as a theoretical physicist by Richard Feynman, Kip Thorne, and Cosmas Zachos, and w ...

left

USA Today ''USA Today'' (stylized in all uppercase) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth on September 15, 1982, the newspaper operates from Gannett's corporate headquarters in Tysons, Virgini ...

to become CEO of TheStreet.com. In June 2018, the company sold Rate Watch to S&P Global for $33.5 million. In February 2019, the company sold The Deal and BoardX for $87 million.

left as CEO and was replaced by Eric Lundberg.

theMaven/The Arena Group

In August 2019, the Maven acquired the company for $16.5 million. The company also partnered with

Sports Illustrated ''Sports Illustrated'' (''SI'') is an American sports magazine first published in August 1954. Founded by Stuart Scheftel, it was the first magazine with circulation over one million to win the National Magazine Award for General Excellence tw ...

Fantasy to launch Bull Market Fantasy with Jim Cramer, a channel offering insights, analysis and tips for winning fantasy sports leagues. During the 2020

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

, ''TheStreet'' received between $5 million and $10 million in federally backed small business loans from

JPMorgan Chase Bank JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and fi ...

as part of the Paycheck Protection Program. The company stated it would allow them to retain 15 jobs. In 2021, theMaven rebranded itself as The Arena Group.

International activities

Israel

In December 1999, TheStreet entered into an agreement with the

Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...

i newspaper publisher

Haaretz ''Haaretz'' ( , originally ''Ḥadshot Haaretz'' – , ) is an Israeli newspaper. It was founded in 1918, making it the longest running newspaper currently in print in Israel, and is now published in both Hebrew and English in the Berliner ...

, to invest $2.25 million in exchange for a 25% stake in

TheMarker ''TheMarker'' ( he, דה-מרקר) is a Hebrew-language daily business newspaper published by the Haaretz group in Israel. ''TheMarker'' was founded in 1999 by journalist and entrepreneur Guy Rolnik along with Haaretz group and U.S.-based invest ...

, a new business news website in

Hebrew Hebrew (; ; ) is a Northwest Semitic language of the Afroasiatic language family. Historically, it is one of the spoken languages of the Israelites and their longest-surviving descendants, the Jews and Samaritans. It was largely preserved ...

and

English English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national ...

. 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. Following the bursting of the

Dot-com bubble The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Comp ...

the investment in TheMarker was fully impaired.

United Kingdom

In February 2000, TheStreet launched a UK edition (thestreet.co.uk); it closed less than a year later, in November 2000.

References

External links

* {{DEFAULTSORT:Street.com 1996 establishments in New York (state) 1999 initial public offerings 2019 mergers and acquisitions Companies formerly listed on the Nasdaq Dot-com bubble Internet properties established in 1996 Online mass media companies of the United States Finance websites