TheStreet.com trades ownership stake to Technology Crossover Ventures
TheStreet.com, an investment-related media property located in Palo Alto, is a dotcom survivor founded in the late 1990’s. Like other older web companies, among them Ask.com and CNET, it’s trying to diversify away from its core offering.
The $55 million that Technology Crossover Ventures is plowing into the company will help it with further acquisitions and initiatives. TheStreet recently acquired Bankingmyway.com and Stockpickr.com, among others, and launched Mainstreet.com.
With TheStreet’s current market cap at over $400 million, TCV’s stake is probably around 10 percent of the company. TCV also holds stakes in CNET, Netflix, and other companies.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.