TheStreet.com

TheStreet, Inc.
Type of business Public
Traded as NASDAQ: TST
Founded 1996
Headquarters 14 Wall Street
New York City, New York, United States
Key people James Cramer (Co-Founder)
Larry Kramer (Chairman)
David Callaway (CEO)
Jerry Kronenberg (Managing Editor, TheStreet.com)
Eric Lundberg (Chief Financial Officer)
Cameron Ireland (Chief Technology Officer)
Industry Broadcast media
Products Online publishing
Employees 800 (2015)
Website corporate.thestreet.com

TheStreet, Inc. is an American financial news and services company founded by Jim Cramer and Martin Peretz.

History

TheStreet, Inc., (formerly, TheStreet.com, Inc.) was co-founded in 1996 by Jim Cramer and Martin Peretz. The company is headquartered at 14 Wall Street in New York City. Its stock went public in May 1999 under the direction of past Chairman and Chief Executive Officer Kevin English and former Chief Financial Officer Paul Kothari.[1][2]

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.[3] Daryl Otte, a long-time company director, became CEO in May 2009[4] after the resignation of the former CEO.[5] Otte is the founding partner of Montefiore Partners, a venture capital investment fund management firm, and a former executive at media company Ziff Davis[6] On March 7, 2012 TheStreet announced that Elisabeth DeMarse was hired as CEO and president, replacing outgoing CEO Daryl Otte.[7]

Beginning as a single web site, TheStreet, Inc. expanded and now publishes consumer Web sites MainStreet.com, Stockpickr, and Bankingmyway.com. In addition to news and financial analysis, TheStreet, Inc. also provides subscription investor services like RealMoney RealMoney Pro, Breakout Stocks, Stocks Under $10, OptionsProfits, Chat on TheStreet, The Daily Swing Trade, Top Stocks, TheStreet Ratings [8] and Action Alerts Plus,[9] run by Jack Mohr.[10]

In 2007, TheStreet, Inc. bought Stockpickr.com,[11] Rate Watch and BankingMyWay.[12] In 2008, TheStreet, Inc. purchased a 13 percent stake in Geezeo.com, the Boston-based online management tool, with an option to purchase the company.[13]

TheStreet's features include: The Five Dumbest Things on Wall Street This Week; Street Whispers, and The Digital Skeptic. Dave Kansas became editor-in-chief in April 1997. Kansas also opened a San Francisco bureau and sat on the board of TheStreet, Inc.[14] In July 2001, David J. Morrow, a former New York Times reporter, 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.[4] William Inman, former Bloomberg News Editor, replaced Glenn Hall as Editor-in-Chief in March 2012. Janet Guyon, from Fortune and The Wall Street Journal, joined in April 2014 to replace William Inman. Jim Cramer remains one of the company's commentators.

While the TheStreet's most noteworthy personality is Jim Cramer, other contributors include Adam Feuerstein, and Doug Kass. Former contributors include Aaron Task, Alix Steel, Dave Kansas, Herb Greenberg, and Brett Arends. Investors have expressed concern for the company's heavy reliance on Jim Cramer according to investing columnist Henry Blodget.[15] Blodget argued that TheStreet "has diversified in recent years, and there's plenty of talent aboard." Cramer promotes TheStreet on his TV show Mad Money and is a main contributor to TheStreet.

In 2008, the Arizona Reporter Newswire alleged that TheStreet, Inc may have conflicts of interest relating to their subsidiary Promotions.com.[16]

The company launched several mobile applications.[17] The Blackberry version was mentioned as "Official Honoree" for the Mobile Applications category of the 2009 Webby awards,[18] got an honorable mention in the 2009 "Best of the Web" awards by Min online[19] and together with the iPhone version won the 2008 "Creative Use of Online" award by the Society of American Business Editors and Writers (SABEW).[20]

In September 2010 TheStreet, Inc. launched a mobile website with content from their main site, thestreet.com.[21] In 1999, TheStreet's market value was $1.7bn. In 2014, the NASDAQ-listed company is worth less than $80m.[22]

Subsidiaries

TheStreet

Since its inception in 1996, TheStreet.com has distinguished itself as a trusted and reliable source for news, analysis and information of the financial markets, economy, sector trends, investment and financial planning. Our namesake website includes free content and houses subscription products that serve varying segments of the retail investing public.

Its subscription products combine expert commentary, state-of-the-art tools and interactive community features. The largest of them are the following:

RealMoney and RealMoney Pro are aimed at active market participants and self-directed investors looking for timely, action-oriented market commentary and analysis. RealMoney contributors include dozens of experienced financial analysts, traders, money managers and journalists, including James J. Cramer and Douglas Kass.

Action Alerts PLUS teaches investors how to manage money for long term growth with former hedge fund manager James J. Cramer. Members are privy to the day-to-day activity surrounding Mr. Cramer’s personal charitable portfolio including alerts notifying them when he is about to make a trade. Surrounding content includes explanations regarding what stocks are being bought or sold and, more importantly, why he is taking that position. Action Alerts Plus members have access to an interactive online forum as well as live monthly video conference calls where Mr. Cramer addresses their questions about the market, specific stocks in the portfolio and trade ideas. Action Alerts PLUS is aimed at investors looking for exclusive access to specific, action-oriented investment ideas. [23]

The Deal

September 12, 2012 [24] TheStreet.com acquired The Deal LLC, a media company that covers mergers and acquisitions.[25] The Deal delivers actionable, intraday coverage on changes in corporate control, including mergers and acquisitions, private equity, corporate activism and restructuring. With an institutional license, users receive full access to proprietary commentary, analysis and data produced by our journalists and content feeds can be customized based on job function or deal focus. The Deal is a trusted information source for organizations seeking to enhance market knowledge, improve client intelligence and generate deal flow.

BoardEx

BoardEx is a leading relationship capital management service and an indispensable source of data and business intelligence for investment banks, consultancies, executive search firms, law firms and universities. Users have access to a powerful database of global executives and the influential organizations they lead. BoardEx’s proprietary software highlights relationships between and among these individuals and a user and his/her colleagues and contacts in order to leverage relationships and facilitate business and corporate development initiatives.

See also

References

  1. ↑ O'Connell, Brian (1999-08-01). "Heard it on TheStreet.com". Retrieved 2011-08-09.
  2. ↑ Gamerman, Ellen (2000-07-21). "Wall Street bullish on nation's future". Retrieved 2011-08-09.
  3. ↑ Kawamoto, Dawn (2008-10-30). "TheStreet.com names Jim Cramer chairman | Business Tech – CNET News". News.cnet.com. Retrieved 2010-05-27.
  4. 1 2 "Investor Relations, Financial Investments, Earnings & Estimates | The Leading Financial Media Company". TheStreet. Retrieved 2010-05-27.
  5. ↑ "Street.com CEO quits after Cramer's TV flameout – Crain's New York Business". Crainsnewyork.com. 2009-03-13. Retrieved 2010-05-27.
  6. ↑ TSC Staff (2009-05-19). "Names Daryl Otte CEO | Media | Financial Articles & Investing News". TheStreet.com. Retrieved 2010-05-27.
  7. ↑ Baron, Michael , "TheStreet.com", March 7, 2012 accessed March 8, 2012.
  8. ↑ "TheStreet". TheStreet. Retrieved 2010-05-27.
  9. ↑ "TheStreet.com". Secure2.thestreet.com. Retrieved 2013-03-13.
  10. ↑ http://www.newslook.com/videos/805303-jim-cramer-s-charitable-trust-gets-new-portfolio-manager
  11. ↑ "TheStreet.com Acquires Stockpickr.com". Business Wire. 2007-04-25. Retrieved 2010-05-27.
  12. ↑ "TheStreet.com Acquires BankingMyWay and RateWatch to Provide Best Bank Rates Online. – Business Wire | HighBeam Research: Online Press Releases". Highbeam.com. 2007-11-02. Retrieved 2010-05-27.
  13. ↑ "Geezeo Takes Investment From TheStreet.com With Option To Buy" April 24, 2008.
  14. ↑ "TheStreet.com Guide to Smart Investing"
  15. ↑ "For Sale: TheStreet.com" September 11, 2007.
  16. ↑ "Jim Cramer... Inside Rumors?" June 12, 2008.
  17. ↑ Bill McCandless (2008-09-30). "BlackBerry App: TheStreet.com Goes Mobile | Market Features | Financial Articles & Investing News". TheStreet.com. Retrieved 2010-05-27.
  18. ↑ TSC Staff (2009-04-14). "Mobile Honored by Webby Awards | Market Features | Financial Articles & Investing News". TheStreet.com. Retrieved 2010-05-27.
  19. ↑ "Best of the Web: Mobile Application". MinOnline. Retrieved 2013-03-13.
  20. ↑ Ogasawara, Todd (2009-03-25). "Congratulations to TheStreet.com: SABEW Winner for Creative Use of Online – TheStreet.com Mobile App – mediabistro.com: MobileContentToday". mediabistro.com. Retrieved 2010-05-27.
  21. ↑ Business Wire (2010-09-20). "TheStreet Launches TheStreet.mobi". Business Wire. Retrieved 2010-09-24.
  22. ↑ Financial Times (2014-12-04). "Activist urges Cramer to sell TheStreet". Financial Times. Retrieved 2014-12-04. (Subscription required (help)).
  23. ↑ "TheStreet". corporate.thestreet.com. Retrieved 2018-09-13.
  24. ↑ http://www.thestreet.com/story/11697253/1/thestreet-acquires-the-deal-terms-undisclosed.html
  25. ↑ "TheStreet Acquires The Deal for $5.8 Million". TheStreet.com.
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