When Forbes Media, LLC brought in Elevation Partners last summer with expansion and acquisitions in mind. Now the company is making a significant online acquisition: Edmonton,Alberta-based Investopedia.com, described as “the most comprehensive and frequently visited Website for investor education on the Internet.” No terms were disclosed. In a staff-wide email announcing the acquisition, Steve Forbes wrote: “This acquisition of Investopedia.com clearly demonstrates there are excellent companies to acquire that will enhance and grow Forbes Media in a strategic way. When you were granted options in Forbes, we anticipated increasing the value of the company to everyone’s direct benefit. These moves are steps toward exactly the kind of growth we envisioned.”
Founded in 1999 by Cory Janssen and Cory Wagner, the site claims 2,500,000-plus monthly uniques; it produces proprietary content using a network of financial experts and internal editing. Other features include a financial dictionary and a stock market simulator. The two co-founders and Tom Hendrickson, president of Investopedia Research will stay with the company.
(Disclosure: We have an arrangement with Forbes.com to use and distribute some of our content.)