NEW YORK--(BUSINESS WIRE)--Forbes Media announced today 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, Alberta, Canada. Terms of the sale were not disclosed.
In making the announcement, 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. Mr. Janssen manages the business development and R&D of Investopedia. Mr. 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.
Cory Wagner, one of the company’s co-founders stated on behalf of Investopedia, “We’re excited and honored to be part of Forbes Media, and everyone involved is eager to continue growing the company. When we look back over the last eight years we’re extremely proud of Investopedia and the countless individuals we’ve helped. Being a part of the Forbes organization will be a huge positive for our employees, contributors, advertisers, and most importantly our audience.”
The Investopedia.com Website draws over 2,500,000 monthly users. The site employs a large network of financial experts and internal editing staff to produce a wide range of proprietary content. There is a popular financial dictionary with over 5,300 terms used in personal finance, banking, and accounting.
Other features include over 1,000 in depth articles by financial experts.
It also has the Internet’s most realistic and popular stock simulator, with over 250,000 users. There are tools for financial calculations and technical analysis. Another popular feature is the assortment of newsletters.
Forbes Media, LLC was formed in August 2006 as a result of an investment in Forbes by Elevation Partners, in which the private equity firm became a minority shareholder in a newly formed company, encompassing Forbes magazine, Forbes.com and other media properties. Forbes is the publisher of Forbes, the nation’s leading business magazine, and its international edition, Forbes Asia, which together reach a worldwide audience of nearly five million readers. Forbes.com is the company’s Internet business, which is the homepage for the world’s business leaders and the #1 business site on the Web. The company also publishes ForbesLife, the magazine’s lifestyle publication.
Investopedia.com is the Internet’s leading online portal for investor education. The company was co-founded in 1999 by Cory Janssen and Cory Wagner, and it is based in Edmonton, Alberta, Canada. The Investopedia.com Website has more than 2,500,000 monthly users, and it employs a large network of financial experts and internal editing staff to produce a wide range of proprietary content. Other features include: an extensive financial dictionary with terms used in personal finance, banking, and accounting; in-depth articles by financial experts; a stock simulator; and tools for financial calculations and technical analysis.