Forbes purchases Investopedia

Forbes announced Wednesday that it had acquired Investopedia.com, the most comprehensive and frequently visited Website for investor education on the Internet. The company was founded in 1999 and is based in Edmonton. Terms of the sale were not disclosed.

In a release, Forbes President and CEO Steve Forbes stated, “When Forbes announced our partnership with Elevation Partners, we said we wanted to accelerate our pursuit of exciting opportunities for growth. This acquisition of Investopedia.com clearly demonstrates there are excellent companies to acquire that will enhance and grow Forbes Media in a strategic way.

“Investopedia.com is a smart, popular and innovative site that quickly delivers invaluable financial and investor education to people who want to understand and be personally involved in their investment decisions. We look forward to growing the business together.�

Investopedia.com was founded in 1999 by Cory Janssen and Cory Wagner. Janssen manages the business development and R&D of Investopedia. Wagner focuses on the marketing and sales of the company. A third management leader is Tom Hendrickson, President of Investopedia Research, Inc. They all will remain with the company.

Read more here. I always tell my business journalism students to use Investopedia to look up business words and phrases they don’t understand. It’s a great resource.Â