FOR IMMEDIATE RELEASE
THESTREET.COM TO BECOME FREE SITE AND HUB OF NEW NETWORK
NEW YORK, January 10, 2000 -
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TSCM), a leading Web-based provider of financial news and information, said it would transform its growing offering of news and commentary into a network of free and paid sites aimed at meeting the increasing needs of the investing community. At the hub of this network will be
www.thestreet.com, a free site focused on timely market news, insightful commentary, stock analysis and personal finance.
As part of the network plan, TheStreet.com said that it will launch a number of new sites to complement the new free hub. RealMoney.com will feature real-time commentary from popular columnists, including James J. Cramer, Herb Greenberg, Adam Lashinsky, Jim Seymour, Brenda Buttner, Helene Meisler and Gary B. Smith. RealMoney.com will be a subscription-based site, charging an annual fee of $200.
"We've already proven that we can charge for information on the Net, as evidenced by our 100,000-strong subscriber base," said Thomas J. Clarke, Chief Executive Officer of TheStreet.com. "The new free hub will introduce a mass audience of readers to our top-flight news and information, and at the same time we'll continue to provide the kind of commentary and insight at RealMoney.com that many of our current subscribers have come to value so highly."
, the free hub of the network, will launch in the second quarter of 2000, with its highly regarded financial news and market coverage from around the globe. It will also include substantial news and analysis from the Company's domestic and international partners, including
The New York Times/TheStreet.com
joint newsroom, the UK-focused
, and the Company's joint news venture with the Ha'aretz Group covering Israeli companies. The site will feature extensive personal finance news, corporate analysis, a full suite of tools including real-time quotes and portfolio tracking, and free access to a dedicated team of columnists. In addition, the newly launched network will include TheStreetTalk.com, an expanded free community site; TheStreetPros.com, a subscription-based professional-level product; and ipoPros.com, a subscription-based research and information product focused on the IPO market.
"Going free for news is a must if we are to compete worldwide for readers," said James J. Cramer, co-founder and daily columnist. "Co-founder Marty Peretz and I welcome this plan as a way to boost page views dramatically while growing additional revenue streams. We will provide the real-time commentary that people want to pay for at RealMoney.com, and we'll cover the waterfront at
New subscriptions to RealMoney.com will be priced at $200 per year or $20 per month. Existing subscribers to
, and those who subscribe prior to the launch date, will have full access to RealMoney.com for the duration of their subscription. Annual subscribers whose subscriptions are set to renew before July 1 of this year will have the opportunity to renew at their current subscription price and retain full access to RealMoney.com's real-time commentary. Those annual subscribers whose subscriptions expire on or after July 1 can renew at the new subscription price of $200. Monthly members will receive RealMoney.com access for one additional month at their current price; after that, they can renew at the new monthly rate of $20.
"We want to thank and acknowledge the faithful subscribers who have played a significant role in building TheStreet.com," said Fred Wilson, chairman of TheStreet.com. "By rewarding them with a significant discount opportunity, we believe that our current subscriber base will benefit richly from the new TheStreet.com network of sites."
About TheStreet.com Network
- A comprehensive, free offering that will include round-the-world markets news, information and analysis, corporate coverage, personal finance and a full suite of tools including real-time quotes and a sophisticated portfolio tracker.
will also feature free access to its own team of columnists.
RealMoney.com - All the excellent commentary previously at
, including James J. Cramer, Herb Greenberg, Adam Lashinsky, Brenda Buttner, Jim Seymour, Helene Meisler and Gary B. Smith and more than a dozen other market sages.
TheStreetTalk.com - A robust, free community offering that will include ticker-based message boards, chats with top writers and editors and other special guests from TheStreet.com network.
TheStreetPros.com - Research and information provided to paying subscribers through corporate intranets and through a password-protected institutional site. Opinions on financial markets, companies and economics.
ipoPros.com - Research and information to paying subscribers curious about the booming IPO market. Includes a newsletter, fax service and other commentary and analysis related to IPOs.
TheStreet.com will conduct a conference call this morning at 8:30 a.m. ET. The Company welcomes investors, analysts and members of the press to listen to the call over the Internet through StreetEvents at:
About TheStreet.com, Inc.
TheStreet.com, Inc. (Nasdaq:
TSCM) is publisher of
, a leading Web-based provider of original, timely, comprehensive, and trustworthy financial news and commentary.
www.thestreet.com) was founded in 1996 and is based in New York City, with bureaus in San Francisco, Silicon Valley and London and commentators throughout Europe and Asia.
editorial team, with over 80 experienced financial journalists and two dozen outside contributors, publishes original news stories and commentaries throughout each day, including columns by James J. Cramer, Herb Greenberg and Adam Lashinsky. TheStreet.com, Inc. has established strategic alliances with
The New York Times
, Fox News Network, Ha'aretz Group, America Online, Yahoo!, E*TRADE, DLJ
, Intuit, 3Com and other leading companies.
, a financial news site majority owned by TheStreet.com and intended for UK investors, will launch in the first quarter of 2000.
Statements contained in this news release which are not related to historical facts may be deemed forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (described in the Company's SEC filings) which could cause actual results to differ.
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