TheStreet.com to Buy Rest of Stockpickr.com - TheStreet

TheStreet.com to Buy Rest of Stockpickr.com

The company will acquire the remaining 50.1% stake it didn't already own.
Author:
Publish date:

TheStreet.com Inc.

(TSCM)

, publisher of this Web site, announced Wednesday that it will acquire the remaining 50.1% stake in

Stockpickr.com

it didn't already own.

Stockpickr.com is a Web site offering a forum where people who want to learn more about investing meet to compare and exchange strategies and techniques.

With insight into more than 800 professional portfolios, including those of Warren Buffett and George Soros, and thousands of do-it-yourself portfolios, visitors to the site learn how to invest following professional strategies.

Users are also able to model their own investment practices after trends they observe professionals following, while mimicking successful investment choices.

"Whether looking for short-term trading ideas or longer-term investments geared for retirement, investors can find common ground with thousands of other users on the site and use Stockpickr's tools to generate new ideas," said James Altucher, president of Stockpickr.com. "Integrating our ever-increasing content with TheStreet.com's news, blogs, video and data, will further allow us to enhance the user experience for Stockpickr members. Finally, what's great about the site is that it attracts the Facebook and 401K audiences and everyone in between."

Stockpickr's investment idea-generating tools feature more than 12 components, including a proprietary recommendation algorithm, diverse model portfolios, specialized lists of individual stocks and a vast community of individuals looking to increase their investment savvy. Combined with TheStreet.com's free editorial content, the acquisition will create "an end-to-end resource unlike any other offering currently available," TheStreet.com said in a press release.

The site is a relevant tool in a quickly changing market for a community that enjoys engaging content through Web 2.0 technologies, the company said.

"With social networking being the fastest growing part of the Web and from our experience with Stockpickr, the time was right for us to own the entire site", said Thomas J. Clarke Jr., chairman and CEO of TheStreet.com. "The combination of TheStreet.com with Stockpickr.com delivers the value that advertisers demand in the Web 2.0 world."

Financial terms of the deal weren't released.