''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. ''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.

History

20th century

TheStreet, Inc., formerly TheStreet.com, Inc., was co-founded in 1996 by Jim Cramer and Marty Peretz. It became a

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

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 investm ...

in May 1999, under the direction of former CEO Kevin English and former CFO Paul Kothari. 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 A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

. In 1999, at the peak of the

dot-com bubble The dot-com bubble (or dot-com boom) was a stock market bubble that ballooned during the late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Interne ...

, 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.

21st century

In July 2001, David J. Morrow, a former reporter for ''

The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'', 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,'' ''

The Wall Street Journal ''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

'', Bloomberg, and Investopedia replaced William Inman in April 2014. 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 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 Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

investment fund management firm, and a former executive at media company

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

. On March 7, 2012, Elisabeth DeMarse was hired as CEO and president, replacing outgoing CEO Daryl Otte. In April 2007, the company acquired

Stockpickr.com StockPickr was a social networking service and virtual community for sharing stock picks, financial analysis, research, news, and commentary. The website was founded by James Altucher in 2006 and acquired by TheStreet.com in 2007 for $10 million ...

. 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 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 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 company, public companies in the United States which have a market capitalization of roughly $50 million to $250 million. The shares of companies with a ...

s, including

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

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

settlements, as well as the PrivateRaise database. In November 2014, the company acquired BoardEx for $22.5 million. BoardEx was sold in December 2018. In June 2016, David Callaway left ''

USA Today ''USA Today'' (often stylized in all caps) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth in 1980 and launched on September 14, 1982, the newspaper operates from Gannett's corporate headq ...

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

S&P Global S&P Global Inc. (prior to 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 financia ...

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. 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 a circulation of over one million to win the National Magazine Award for General Excellen ...

'' 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 in the United States On December 31, 2019, China announced the discovery of a cluster of pneumonia cases in Wuhan. The first American case was reported on January 20, and United States Department of Health and Human Services, Health and Human Services Secreta ...

, ''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. In 2021, theMaven rebranded itself as The Arena Group.

International activities

In December 1999, TheStreet entered an agreement with the

Israel Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...

i newspaper publisher ''

Haaretz ''Haaretz'' (; originally ''Ḥadshot Haaretz'' – , , ) is an List of newspapers in Israel, Israeli newspaper. It was founded in 1918, making it the longest running newspaper currently in print in Israel. The paper is published in Hebrew lan ...

'', to invest $2.25 million in exchange for a 25% stake in '' TheMarker'', a new business news website in

Hebrew Hebrew (; ''ʿÎbrit'') is a Northwest Semitic languages, Northwest Semitic language within the Afroasiatic languages, Afroasiatic language family. A regional dialect of the Canaanite languages, it was natively spoken by the Israelites and ...

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. Following the burst of the

, the investment in ''TheMarker'' was fully impaired. In February 2000, TheStreet launched a United Kingdom edition, thestreet.co.uk; nine months later, it closed in November 2000.

References

External links

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