TheStreet.com Invests in Geezeo

The company's investment includes a year-long option to purchase Geezeo at a set valuation.
By TSC Staff ,

TheStreet.com (TSCM) , the publisher of this Web site, said Thursday that it has made a strategic investment in Geezeo, a leader in web-based personal finance. The investment continues TheStreet.com's expansion in the money category.

Geezeo combines online personal finance tools with social networking to provide consumers with resources to achieve their financial goals. The site allows users to track bank accounts, credit card balances, as investments, mortgages, student loans and auto loans. The Geezeo platform connects to more than 6,000 financial institutions and boasts bank-level security precautions to ensure the safety of user data.

In addition to giving users a single platform to access all of their financial information, Geezeo offers a tagging function that lets users create budgets, track spending, set financial goals and interact with a community dedicated to improving financial habits.

"Geezeo is a natural place for visitors to the individual Web sites within TheStreet.com network to connect," said Thomas J. Clarke, Jr., chairman and CEO of TheStreet.com. "Geezeo brings our audience together in an interactive arena that facilitates educated financial decision making."

Geezeo also gives users the ability to "know on the go" with mobile functionality. Users can instantly find out anything from how much money they have in their checking accounts to how much they have spent on coffee this month with a simple text message.

Currently, there are more than 100 online discussion groups taking place around life events and more than 1,000 community-based financial goals being tracked at the site. Geezeo has become a place where consumers can go and immediately start making better financial decisions.

"Our main focus at Geezeo has always been to provide people with a fun, free and easy to use personal finance solution," said Geezeo co-founder Shawn Ward. "We are pleased to be in TheStreet.com's growing network of Web sites as we align in the common goal of providing consumers with the tools and support they need to better manage their finances."

TheStreet.com expects the partnership to drive traffic, revenue and user engagement, while further positioning the company as a reliable destination for all things related to money.

TheStreet.com's investment in Geezeo includes an initial investment of $1.2 million for a roughly 13% interest in Geezeo and the option to purchase the company based on an equity value of $12 million at any point over the next year.

This article was written by a staff member of TheStreet.com.

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