What was thestreet.com saying in Feb.?->THESTREET.COM LAUNCHES THESTREET.CO.UK IN THE UNITED KINGDOM FIRST LEG OF INTERNATIONAL EXPANSION IS AHEAD OF SCHEDULE, UNDER BUDGET AND Supported by Aggressive Marketing Campaign
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Story Filed: Tuesday, February 15, 2000 8:45 AM EST
NEW YORK and LONDON, Feb 15, 2000 /PRNewswire via COMTEX/ -- TheStreet.com, Inc. (Nasdaq: TSCM), a leading Web-based provider of financial and investment news and commentary, today announced the highly anticipated launch of TheStreet.co.uk. The new site, with one of the largest independent online newsrooms in the UK, offers investors a comprehensive range of timely and original financial news and investment commentary, stock quotes and research tools. TheStreet.co.uk is majority owned by TheStreet.com, Inc., and investors including Chase Capital Partners, Barclays Private Equity, Intel, ETF Group and 3i each hold minority stakes.
"The United Kingdom is an ideal market for the first leg of our international expansion," said Thomas J. Clarke, Chief Executive Officer of TheStreet.com, Inc. and Chairman of TheStreet.com (Europe) Ltd. "TheStreet.co.uk has given TheStreet.com an overseas presence with a modest investment, and we have structured the investment to allow for a variety of future funding options, including an IPO in the European markets if the conditions are right."
The launch of TheStreet.co.uk, which is free to all Internet users, is ahead of schedule and under budget. In addition to publishing proprietary news and commentary of interest to UK investors, TheStreet.co.uk will also syndicate content from TheStreet.com, and will in turn supply news about European markets to the US site.
A targeted marketing initiative will build awareness and drive UK investors to the new site, with print advertisements running in The Economist, The Times, The Telegraph, The Financial Times and other UK publications. The campaign also includes significant online marketing, and the outdoor component of the campaign is one of the largest ever by an online content company in the UK.
"We have had an extremely positive reception from the online community and advertisers alike," said Claudia Jay, Managing Director of TheStreet.co.uk and former head of product development for the Financial Times news site FT.com. "We have already secured major advertising contracts, before publishing a single word."
Led by Editor Martin Baker (former Sunday Business associate editor), TheStreet.co.uk has an experienced staff of 20 journalists, including four who served most recently as City editors for prominent UK newspapers.
TheStreet.co.uk has already secured content syndication agreements with prominent local portals including AOL UK and Lycos UK, and online brokers such as E*Trade United Kingdom and DLJdirect United Kingdom have signed advertising agreements for the new site.
About TheStreet.com, Inc. TheStreet.com Inc. (Nasdaq: TSCM) is publisher of TheStreet.com, a leading Web-based provider of financial news and commentary. TheStreet.com was founded in 1996, with an editorial team of over 80 experienced financial journalists based in New York City, San Francisco, Silicon Valley and London, and commentators throughout Europe and Asia. Under a recently announced strategy, the Company's main site at www.thestreet.com will become entirely free in the second quarter of 2000, augmented by a network of sites including RealMoney.com, a subscription-based commentary site featuring columnists including James J. Cramer, Herb Greenberg, Adam Lashinsky and dozens of others. TheStreet.com, Inc. has established strategic alliances with The New York Times, FOX News Network, Israel's Ha'aretz Group, America Online, Yahoo!, E*TRADE, DLJdirect, Intuit, 3Com and other leading companies.
About TheStreet.co.uk TheStreet.co.uk is a new online investor and financial news service. Launched on February 15, 2000, TheStreet.co.uk offers private investors real- time financial news, analysis and commentary as well as online share price information and personal finance advice. TheStreet.co.uk boasts one of the strongest teams of experienced financial journalists anywhere on the web -- including four former UK newspaper City Editors. TheStreet.co.uk is owned and operated by TheStreet.com (Europe) Ltd, an independent company that is majority owned by TheStreet.com, Inc. in the United States. The other investors in the company are Chase Capital Partners, Barclays Private Equity, 3i, ETF Group, and Intel.
SOURCE TheStreet.com, Inc. (C) 2000 PR Newswire. All rights reserved. prnewswire.com
CONTACT: Sean McLaughlin of TheStreet.com, 212-321-5254, or email,
smclaughlin@thestreet.com; Investors, Jean Young, email, jyoung@frb.bsmg.com, or General, Kelly Lofts, email, klofts@frb.bsmg.com, 212-661-8030, both of The Financial Relations Board, for TheStreet.com, Inc.
WEB PAGE:
thestreet.co.uk
thestreet.com
GEOGRAPHY: New York
England INDUSTRY CODE: CPR MLM SUBJECT CODE: PDT
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