RagingBull.com is a
website
A website (also written as a web site) is any web page whose content is identified by a common domain name and is published on at least one web server. Websites are typically dedicated to a particular topic or purpose, such as news, educatio ...
focused on
financial literacy
Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably. Financially un ...
and
day trading
Day trading is a form of speculation in Security (finance), securities in which a Trader (finance), trader buys and sells a financial instrument within the same trading day. This means that that all Position (finance), positions are closed befor ...
.
History
RagingBull.com was founded in August 1997 by Bill Martin with college partners
[ Rusty Szurek and Greg Wright, who were 19 years old at the time, as a hobby. It was begun in a basement with an initial investment of $30,000 from savings and credit card loans.]CMGI
Steel Connect, Inc. is an American company that provides supply chain management services to software companies. History
The company was formed in 1968 as College Marketing Group by Glenn and Gail Mathews. At first, the company sold mailing lists ...
, discovered the website while on vacation.[ In October 1998, CMGI invested $2 million in Raging Bull for a 40% stake. At that time, the co-founders were each 21 years old.][
In February 2000, ]AltaVista
AltaVista was a web search engine established in 1995. It became one of the most-used early search engines, but lost ground to Google and was purchased by Yahoo! in 2003, which retained the brand, but based all AltaVista searches on its own sear ...
, which was majority owned by CMGI, acquired the website in a stock transaction. At that time, Raging Bull had 425,000 registered members, 12 million daily page views, and message boards where users posted 35,000 messages per day.Terra
Terra may often refer to:
* Terra (mythology), primeval Roman goddess
* An alternate name for planet Earth, as well as the Latin name for the planet
Terra may also refer to: Geography Astronomy
* Terra (satellite), a multi-national NASA scient ...
acquired the website.
In February 2006, Terra's Lycos division sold Quote.com and RagingBull.com to Interactive Data Corporation
ICE Data Services (formerly known as Interactive Data) was an American 1960s-founded Time-sharing services company that later became known for providing financial market data (financial data vendor), analytics and related solutions to financial ...
for $30 million, which integrated them into eSignal.
In June 2017, Chuck Jaffe was named chief editor of the website. After a short, 6-month "experiment" with Jaffe as editor, the site changed direction and Jaffe was released from his position.
Lawsuit and settlements
In December 2020, the Federal Trade Commission
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) United States antitrust law, antitrust law and the promotion of consumer protection. It ...
accused the company of defrauding consumers out of more than $137 million over the previous three years and making it difficult for customers to cancel their monthly subscriptions. In December 2021, the owners of the site agreed to pay $700,000 in refunds to New Hampshire customers and an additional $675,000 in administrative fines to settle claims by state securities regulators. In March 2022, RagingBull.com as well Sherwood Ventures LLC and defendants Jason Bond and Jeff Bishop paid $2.425 million to settle what the FTC called "bogus stock earnings claims" and a hard to cancel subscription service. The company also agreed to modify certain marketing practices.
References
{{DEFAULTSORT:RagingBull.com
English-language websites
Financial services companies established in 1997
Internet properties established in 1997