''TheStreet'' is a financial news and

financial literacy Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Raising interest in personal finance is now a focus of state-run progr ...

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 Cramer ...

Bob Powell Bob Powell (né Stanley Robert Pawlowski; While gives Stanislav Pavlowsky, and gives Stanislav Pavlowsky, Bails and Ware note: "family name corrected by his son, Seth R. Powell July 2006." October 2, 1916

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 corresponden ...

, 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 w ...

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. H ...

. 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. 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 Compo ...

, the market capitalization 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 d ...

'', 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 ''The Orange County Register'' is a paid daily newspaper published in California. The ''Register'', published in Orange County, California, is owned by the private equity firm Alden Global Capital via its Digital Fiest/Media News subsidiaries. ...

'') 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 Tele ...

, 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,'' ''

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 Elisabeth DeMarse is a businesswoman. She is a former Chairman, Chief Executive Officer and President of TheStreet.com. As of 2022 she is a board member of the NYC based ad-fraud prevention and marketing company Kubient inc. Early life and educa ...

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 The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

. 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 stock In business and investing, term microcap stock (also micro-cap) refers to the stock of public companies in the United States which have a market capitalization of roughly $50 million to $300 million. The shares of companies with a market capitaliz ...

s, including

s and private placements, and ''The Life Settlements Report'', which focuses on life insurance settlements, as well as the PrivateRaise database. In November 2014, the company acquired

BoardEx BoardEx is a global data company specializing in relationship mapping and intelligence. Founded in 1999, and with offices in New York, London and Chennai, BoardEx is a wholly owned subsidiary of Euromoney PLC, a member of the FTSE 250 share ind ...

for $22.5 million.

2010s: pre-sale moves

In June 2016, David Callaway 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, Virgi ...

to become CEO of TheStreet.com. In June 2018, the company sold Rate Watch to

S&P Global S&P Global Inc. (prior to April 2016 McGraw Hill Financial, Inc., and prior to 2013 The McGraw–Hill Companies, Inc.) is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financ ...

for $33.5 million. In February 2019, the company sold The Deal and BoardX for $87 million. David Callaway 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 twi ...

Fantasy to launch Bull Market Fantasy with Jim Cramer, a channel offering insights, analysis and tips for winning

fantasy sport A fantasy sport (also known less commonly as rotisserie or roto) is a game, often played using the Internet, where participants assemble imaginary or virtual teams composed of proxies of real players of a professional sport. These teams compete bas ...

s 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 as part of the

Paycheck Protection Program The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Donald Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARE ...

. 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, 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 inv ...

, 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 ide ...

. 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 Compo ...

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