TheStreet

TheStreet.com Inc. is a financial news website with approximately 75,000 subscribers. The site is free to use, but the firm does have a subscription-based sister site, RealMoney.com, that provides more in-depth information for stock trading professionals. In 2000, sales increased by 63 percent to $23 million. TheStreet.com, on the other hand, lost $62 million that year. In order to achieve profitability, the company implemented a series of cost-cutting measures in 2001, including a 20% reduction in its workforce.

TheStreet.com was launched in November 1996 by James J. Cramer, a well-known money manager and New York magazine writer, and Martin Peretz, the editor-in-chief and chairman of the New Republic. Andrew Drake was named president and CEO of the new website, and Dave Kansas, a Wall Street Journal reporter, was named executive editor. Users were granted access to performance reports profiling Wall Street analysts as well as other articles written by Cramer and Michael Lewis, the senior editor of The New Republic, for $12.95 per month.

Subscribers also received a daily e-mail newsletter with news and commentary on current trading activity. By the end of 1996, Cramer and Peretz had begun marketing their service to the 1.5 million US residents who were involved in some form of electronic trading. According to a Forrester Research report released shortly after TheStreet.com's launch, the number of US households trading stocks electronically would more than double in a year and surpass 10 million by 2001. Despite many predictions to the contrary, Cramer and Peretz believed that many of these people would be willing to pay for immediate market information.

Founded: 1996
Headquarters: New York City, New York, United States

Twitter: @TheStreet (850N followers)

Website: https://www.thestreet.com/