BREAKING NEWS & VIEWS
Forbes Puts Investopedia on the Block
Monday, June 14, 2010
Three years after acquiring the financial and investor reference site Investopedia, Forbes Media announced on Friday that it was putting the asset up for sale. The company retained investment banking firm Jordan, Edmiston Group to help market the offering. Forbes says that the sale is part of a “larger strategy shift for Forbes digital,” but the company would not elaborate on what kind of shift this indicated.
Investopedia is aimed at educating investors and financial professionals with a dictionary that boasts over 9,000 terms used in the personal finance, banking and accounting industries. Forbes says that the site was very successful and had grown its audience and profitability over the last three years under Forbes’ ownership. In May, Forbes acquired a very different kind of financial information source in True/Slant, a financial news and investment blogging community founded by former Forbes executive editor and AOL executive Lewis Dvorkin. According to analytics firm Compete, Investopedia attracts between 1 million and 1.3 million monthly uniques. the site gets only 2.8% of its traffic referred from Forbes.com itself and instead relies mainly on strong search optimization in Google and Yahoo.
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