TORONTO, Oct. 25, 2021 /PRNewswire-PRWeb/ -- Beringer
Capital ("Beringer"), a leading North American private equity firm
specializing in the media, marketing services, and technology
sectors, is proud to announce it has acquired a majority stake in
Benzinga. Created by the people for the people, Benzinga is a
tech-enabled financial media platform that delivers dynamic news,
investment analytics, and market information. The partnership
between Beringer and Benzinga validates and will accelerate
Benzinga's mission to level the playing field for individual
investors.
Benzinga was born out of the Great Recession in 2010. Founder
Jason Raznick has since built
Benzinga to be the resource most widely used by individual
investors, integrated into every major online brokerage and
recognized as an indispensable resource for best-in-class content,
data, events and information. Its staff of more than 100 delivers
timely and actionable insights to nearly 25 million readers each
month—spanning more than 125 countries worldwide—and organizes
industry conferences to connect individual investors with public
companies.
Beringer Capital's acquisition of Benzinga reflects its deep
media sector expertise, as well as its investment philosophy of
partnering with robust founder-led companies that are focused on
augmenting digital transformation efforts. Its team was
particularly impressed by Benzinga's authentic voice, which seeks
to bring investors highly digestible, understandable, and timely
information; as well as its broad yet expert editorial coverage
that spans traditional financial markets, politics, biotech,
cannabis, cryptocurrencies, sports betting and more. This
transaction comes on the heels of a year in which Benzinga parlayed
broader investment trends—including a growing interest in stock
trading and alternative assets such as cryptocurrency—into record
subscriber numbers.
Working closely together, Benzinga and Beringer Capital will
seek to deliver unparalleled value while helping to grow the
platform's subscriber and user base further still. These efforts
will include deeper content vertical coverage, new forms of media,
expanded B2B partnerships, continuous UX/UI improvements, and
more.
"Benzinga is just entering the second inning of what we will
build. Partnership with Beringer drastically accelerates the
timeline to realize our ambitions of what we can provide investors
globally," said Jason Raznick,
founder and CEO of Benzinga, who will retain a significant stake in
the company and continue to play a key leadership role in charting
Benzinga's future growth and vision. "I call myself the co-founder
of Benzinga because I truly believe Benzinga is co-founded everyday
by our amazing team of Zingers who are empowered and encouraged to
build everyday."
"Benzinga was built by being honest and genuine with our users.
We are excited to step forward not only hand in hand with Beringer,
but also our users," said Benzinga's SVP of revenue Luke Jacobi.
"We're thrilled to partner with Jason and the team at Benzinga,
a company at the forefront of trends affecting the next generation
of investors," added Perry Miele,
chair and managing partner at Beringer Capital. "To date, Benzinga
has done a remarkable job of differentiating its offerings and
building a vibrant, engaged community across its various platforms.
We're looking forward to building on this impressive trajectory,
collaborating closely with its team on exciting new offerings that
empower more investors to take control of their financial
futures."
Beringer Capital has a strong track record of partnering with
companies in the digital media space, helping them to adapt and
thrive amid a rapidly changing business landscape. Earlier this
year the firm announced its acquisition of Inman News, a foremost
source of news and insights for the real estate industry. In 2016,
Beringer acquired leading media and events company Adweek, helping
to diversify its product offerings and drive significant
growth.
Benzinga was advised in the transaction by Canaccord Genuity.
Terms of the deal were not disclosed.
ABOUT BERINGER CAPITAL:
Beringer Capital is a private equity firm specializing in the
rapidly evolving media, marketing services, commerce, data and
technology sectors. The firm leverages its financial and
intellectual capital to invest in middle-market companies that are
strongly positioned to benefit from the accelerating trend toward
digital transformation. Beringer's collaborative approach, as well
as its strong track record with add-on acquisitions, helps
visionary leadership teams to deliver exceptional customer
experience and achieve impressive results.
Beringer Capital has offices in Toronto and New
York. For more information, visit
http://www.beringercapital.com
ABOUT BENZINGA:
Benzinga is a dynamic and innovative financial media outlet that
empowers investors with high-quality, unique content that is sought
after by Wall Street's top traders. Benzinga provides timely,
actionable ideas that help users navigate even the most uncertain
and volatile markets – in real-time with an unmatched caliber.
Benzinga is a dynamic and innovative financial media outlet that
empowers investors with high-quality, unique content that is sought
after by Wall Street's top traders. Benzinga provides timely,
actionable ideas that help users navigate even the most uncertain
and volatile markets – in real-time with an unmatched caliber.
Benzinga's flagship product is Benzinga Pro, a renowned real-time
stock market information source providing intelligence that, until
recently, was only available to institutional investors. Investors
depend on Benzinga Pro everyday to power their investment
decisions, understand why markets are moving and share ideas with a
dedicated community.
Media Contact
Emma Smith, Beringer Capital, +1
5043215238, emma@threelionspr.com
SOURCE Beringer Capital