NEW YORK, Apr 24, 2008 (BUSINESS WIRE) -- TheStreet.com, Inc. (NASDAQ: TSCM), a leading financial media
company, today announced that it has made a strategic investment in
Geezeo, a leader in Web-based personal finance, as it continues its
expansion within the money category.
Geezeo combines free, easy-to-use online personal finance tools
with the power of social networking to provide the resources and
motivation consumers need to achieve their financial goals. Geezeo
allows users to instantly and automatically track bank accounts and
credit card balances, as well as investments, mortgages, student loans
and auto loans. The Geezeo platform connects to more than 6,000
financial institutions and boasts bank-level security precautions to
ensure the safety of user data.
In addition to giving users a single platform to access all of
their financial information, Geezeo offers a tagging functionality
that makes it easy to create budgets, track spending, set financial
goals and interact with a community dedicated to improving financial
habits.
"Geezeo is a natural place for visitors to the individual Web
sites within TheStreet.com network to connect," said Thomas J. Clarke,
Jr., chairman and CEO of TheStreet.com. "Whether they are visiting
TheStreet.com for market analysis, Stockpickr.com for stock ideas,
BankingMyWay.com for the best online bank rates for CDs, savings
accounts, interest checking, money markets etc., or MainStreet.com for
personal finance information, Geezeo brings our audience together in
an interactive arena that facilitates educated financial decision
making."
In addition to allowing users to create customizable budgets,
charts and e-paper trails on their spending habits, Geezeo also gives
its users the ability to "know on the go" with rich mobile
functionality. Geezeo users can instantly find out anything from how
much money they have in their checking accounts to how much they have
spent on coffee this month with a simple text message.
Since going live in 2007, Geezeo has been recognized by CNN, The
Wall Street Journal, Newsweek and The Washington Post for its
innovation in combining social networks and personal finance.
Currently, there are more than 100 online discussion groups taking
place around life events and more than 1,000 community-based financial
goals being tracked at the site. Geezeo has become a place where
consumers can go and immediately start making better financial
decisions.
"Our main focus at Geezeo has always been to provide people with a
fun, free and easy to use personal finance solution," said Geezeo
co-founder Shawn Ward. "We are pleased to be in TheStreet.com's
growing network of Web sites as we align in the common goal of
providing consumers with the tools and support they need to better
manage their finances."
TheStreet.com expects the partnership to drive traffic, revenue
and user engagement, while further positioning the company as a
superior destination for all things related to money.
TheStreet.com's investment in Geezeo includes an initial
investment of $1.2 million for an approximate 13% interest in Geezeo
and the option to purchase the company based on an equity value of $12
million at any point over the next year.
About TheStreet.com, Inc.
TheStreet.com is a leading financial media company. It engages
audiences on video and digital platforms through some of the Web's
best known sites: TheStreet.com, RealMoney.com, Stockpickr.com,
BankingMyWay.com, MainStreet.com, Rate-Watch.com and Promotions.com.
Through this network, the company produces and distributes content in
all areas where life and money intersect to inform, engage and
activate one of the most affluent, influential audiences on the Web
today.
About Geezeo
Geezeo (www.geezeo.com) is a social finance company that combines
free, easy-to-use online personal finance tools with the power of
social networking to provide the resources, information and motivation
consumers need to achieve their financial goals. In May 2007, Geezeo
became the first company to offer users access to all of their account
balances via SMS text message. In October 2007, Geezeo became the
first company with the ability to aggregate all of a customer's
financial data on to a single platform.
Forward Looking Statements
Statements contained in this news release not related to
historical facts may be deemed forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and uncertainties
(described in the Company's SEC filings) that could cause actual
results to differ.
SOURCE: TheStreet.com, Inc.
TheStreet.com, Inc.
Chaela Volpe, Investor Relations Manager
Phone: 212-321-5008
Email: Chaela.volpe@thestreet.com
or
Geezeo
Dave Carlson, Strategics, Inc.
Phone: 312-346-2006
Email: dcarlson@strategicsinc.com