TheMarkets.com Raises $30 Million From 11 Top Investment Banks/Owners
TheMarkets.com is a website that reports financial resources and estimations to institutional investors.Â Today the company announced that it has “completed a $30 million Series S Rights Offering to its existing broker-owners.”
“This investment is a tangible validation of our business model to provide value-added content and workflow solutions to the buy-side,” stated David Eisner, the CEO and President of TheMarkets.com. “Together with our already strong cash flow and balance sheet, this round of financing will propel our growth in the coming years. The funding will enable us to pursue strategic investments and acquisitions, as we continue to expand globally by leveraging our existing distribution platform and our unique relationships with the sell-side to introduce new products and services requested by our clients.”
Who owns TheMarkets.com?Â The company was formed in 2000 by eleven of the top investment banks: Banc of America Securities, Citigroup, Credit Suisse, Deutsche Bank, Dresdner Kleinwort, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS Investment Bank.Â Â The site also offers information regarding company financial filings and pending equity deals straight from the source.Â TheMarkets.com is based in New York and also has offices in London.
TheMarkets.com serves over 1500 firms in 43 countries.Â “TheMarkets.com has a proven management team and a sound business model,” stated Mark Steinert, a new Board Member of and also a Global Head of Research at UBS. “We view the Company as an ideal vehicle through which to develop new tools for the buy-side that uniquely leverage our services, and we were delighted to be a significant investor in the round.”
 TheMarkets.com Press release: TheMarkets.com Closes $30 Million to Fund Strategic Growth Plans
 PaidContent: Online Financial Researcher TheMarkets.com Closes $30 Million Investment