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Technology Stocks : TheStreet.com, Inc. (TSCM) -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (428)	9/10/1999 1:39:00 PM
From: GoBulls	Read Replies (3) \| Respond to of 1822

any news today???

To: KM who wrote (428)	9/12/1999 7:40:00 AM
From: LABMAN	Respond to of 1822

from the LONDON SUNDAY TIMES September 12 1999 BUSINESS NEWS Wall Street net paper gets backing for UK launch Dominic Rushe WALL STREET's internet newspaper, TheStreet.com, has secured more than £10m in venture-capital funding to launch an assault on the British market. Kevin English, chairman of TheStreet, said he intended to use the money to establish the British site as a beachhead into Europe. Wall Street's version of the net newspaper attracts 1m visitors a month and has 90,000 subscribers. For the British edition, TheStreet, which is listed on the Nasdaq stock exchange, has raised £10.6m from Barclays Capital, Chase Capital Partners, ETF Group and 3i Group. The money will be used to recruit 50 journalists and managers for a launch early next year. Staff will be offered equity stakes. Claudia Jay, until recently product development head at FT.com, the Financial Times's web newspaper, has been appointed managing director. The service's editor-in-chief will be Martin Baker, an associate editor at Sunday Business, the financial weekly. News Corporation, ultimate owner of The Sunday Times, owns a stake in the TheStreet and the company has a television show on Fox, another News Corp company. Jay said the British edition may make a similar tie-up. English said: "Net usage has exploded across the UK and that is a dynamic that is happening across Europe. We are all spectators at a historic event and TheStreet will be very aggressive and very opportunistic in taking advantage of this change." Net newspapers are in their infancy and media analysts have expressed concern about their ability to make money. English said the company drew the majority of its revenue from advertising, which has risen 197% year on year. Subscriptions make up about a quarter of The Street's income. Much of the site is free but its subscribers pay about £6 a month for the full service. AOL, the big American internet-service provider, has struggled to keep pace with Freeserve, its British rival, because it imposed charges for its service. Jay said she would be looking carefully at the differences between Britain and America in the run-up to the launch. "There are very real differences in the two markets," she said. "The UK has a greater interest in personal finance for example. But in terms of focus, the products will be much the same. "We will be focused on people who want to manage their investments effectively but who also want to have some fun while they do it." Shares in TheStreet more than tripled to $60 when they made their debut on Nasdaq in May. But they have since fallen sharply and on Friday closed at $18, below their original $19 issue price. Jay has appointed Mustoe, Merriman, Herring, Levy, the advertising agency, to come up with a campaign for TheStreet to be launched later this year. Next page: McCann poised to sell half of Celtic