Who founded TheStreet financial news website?
TheStreet was co-founded in 1996 by Jim Cramer and Marty Peretz. Cramer was a hedge fund manager and Peretz was his Harvard mentor.
Questions about TheStreet
Short answers, pulled from the story.
What was TheStreet's market cap during the dot-com bubble?
At the peak of the dot-com bubble in 1999, TheStreet's market capitalization reached $1.7 billion. On the day of its IPO on the 5th of May, 1999, the stock rose from $19 a share to as high as $73 before settling at $59.
Who owns TheStreet today?
TheStreet is a subsidiary of The Arena Group, which was known as Maven until its 2021 rebrand. Maven acquired TheStreet in August 2019 for $16.5 million.
What acquisitions did TheStreet make and sell?
TheStreet acquired several properties between 2007 and 2014, including Stockpickr.com, Corsis, BankingMyWay, RateWatch, The Deal LLC, BoardEx, and financial newsletters including The DealFlow Report. RateWatch was sold to S&P Global for $33.5 million in 2018, and The Deal and BoardEx were sold for $87 million in February 2019.
Did TheStreet receive COVID-19 pandemic relief loans?
Yes. During the 2020 COVID-19 pandemic, TheStreet received between $5 million and $10 million in federally backed small business loans from JPMorgan Chase Bank through the Paycheck Protection Program. The company stated the funds would allow it to retain 15 jobs.
What international editions did TheStreet operate?
TheStreet launched a United Kingdom edition, thestreet.co.uk, in February 2000, but it closed after nine months in November 2000. In December 1999, the company also invested $2.25 million for a 25% stake in TheMarker, a Hebrew and English business news site operated in partnership with the Israeli publisher Haaretz; that investment was fully written off after the dot-com bubble burst.