Financial site TheStreet.com Inc. Wednesday made a move to broaden its online resources with the purchase of ipoPros.com.
Terms of the deal were not disclosed.
ipoPros.com is a subscription-based site offering research, ratings, data
and news about initial and
secondary stock offerings. TheStreet.com (TSCM)
will incorporate ipoPros.com into its network, though the ipoPros.com site
will continue to provide its full content
offerings to subscribers after the close of the transaction, expected in the
next few weeks.
ipoPros.com founder Ben Holmes will write a daily IPO column for
TheStreet.com under a multi-year employment agreement. Holmes has been a
contributing columnist for TheStreet.com since April.
The IPO market has always been a hot one, but with recent success of
companies such as VA Linux Systems,
Inc. (LNUX)
and other tech stocks, consumers’ interests are increasing. Thomas J.
Clarke, chief executive officer of TheStreet.com, said that the acquisition
adds new IPO resources to the company’s investment information.
“The ipoPros.com product is an outstanding addition to TheStreet.com, with
commentary, analysis, news and data that’s original, cutting-edge,
and exceptionally useful to today’s investor,” said Clarke.
“…This combination will bring unmatched IPO research and
analysis to our growing subscriber base — and lends our marketing
and technological resources to help further the growth of ipoPros.com.”
