Categories: OLD Media Moves

TheStreet.com survives when bigger players enter the market

Maria Aspan of The New York Times writes Monday about how TheStreet.com continues to thrive despite bigger players entering the online business journalism market.

TheStreet.comAspan wrote, “For 11 years, TheStreet.com has developed its identity as a small, reliable financial information Web site, a quiet and somewhat plain publication buoyed by the loud, larger-than-life personality of its co-founder, Jim Cramer. But after weathering the dot-com bubble, the ups and downs of the stock market and an attempt to sell the company, TheStreet.com’s slow success has recently jump-started efforts to expand its content and ambitions.

“‘There are not that many Internet media companies that have leadership in their field, that are growing as fast as they are, that are still independent,’ said Mark May, a senior Internet analyst for Needham & Company, who has been following TheStreet.com since 1999. ‘They’ve been around a long time; they’ve basically learned a lot of lessons.’

“Those lessons came early and often after the Web site’s initial success. After the dot-com bubble burst in 2000, TheStreet.com’s publicly traded stock plunged to about $1 a share; at one point in 2004, the company hired the investment bank Allen & Company to ‘explore strategic alternatives,’ which amounted to declaring itself on the market for a buyout.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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