Benzinga's $3 Million Investment Round Will Continue To Make Information Easier For You To Consume
Benzinga is proud to announce a $3 million investment round led by WorldQuant Ventures. Our vision is to make information easier to consume and this investment will help us get there. Whether it's news, data, or analysis, Benzinga is dedicated to giving its users the most relevant and actionable information possible.
Since our start in 2010, we’ve worked to grow Benzinga’s distribution network to reach over 200 million monthly visitors, built world-class information delivery infrastructure and produced news wires and datasets that move markets.
“The world of finance needs a voice focused on delivering valuable insight to its clients as well as highly actionable data sets at incredible speed, and Benzinga’s consistent ability to do exactly that presented a great investment opportunity for WorldQuant Ventures,” said Steven Lau, managing director of WorldQuant Ventures.
Over the past year, we've seen tremendous demand for our news wires and data sets from the buy side community. Our partnership with WorldQuant Ventures will catalyze our team’s growth so that demand can be met. We're looking for sales people, account managers, engineers, data scientists and editorial Zingers who want to impact how the financial community gets its information.
Other investors in the round include Dan Gilbert, Founding Partner of Detroit Venture Partners, Stuart Robbins, former Managing Director of Global Equities for DLJ, and Brad Keywell and Eric Lefkofsky, founders of Lightbank, among others.
Benzinga Does Things Differently
We're committed to making Detroit a global hub of financial technology. Partners are typically shocked to learn we’re based in Detroit, but this is the place we call home. From automotive innovation, to recent initiatives lead by Quicken and Rock Ventures, Detroit has changed the world numerous times and at Benzinga, we're excited to make our city the new home of Fintech.
Benzinga also receives a lot of credit for our ability to procure information. At a time when many are turning to full automation for financial information, Benzinga’s newsdesk keeps users in the know by consistently breaking news that moves markets, taking noise out of news and providing invaluable context.
Here are a few highlights of our reporting over the last couple months.
Benzinga users benefited from 42 percent upside following Benzinga’s report that Oracle was making a play to buy the company. After initially reporting on unusual options activity on July 11, Benzinga reported that the company was going to be taken over on July 12, causing shares to spike higher.
Sarepta’s (NASDAQ: SRPT) Critic to Leave FDA
Benzinga users benefited from 114 percent upside after Benzinga broke the news that the main dissenting voice on the FDA panel for Sarepta’s Muscular Dystrophy treatment, Eteplirsen, had left the FDA. One week after his departure, the treatment was approved.
Carl Icahn Is Not Selling His Herbalife (NYSE: HLF) Stake
Benzinga users benefited from as much as 9.9 percent upside following Benzinga’s report that Carl Icahn would not be selling his Herbalife position. Shares of Herbalife were trading lower after a rumor, supported by commentary from Bill Ackman, spread that Icahn was selling his shares. Benzinga not only reported that Icahn wasn't selling his shares, but alerted users to expect a new filing, which showed an increased position.
Hain Celestial (NASDAQ: HAIN) Will Miss Previously Given Guidance
Benzinga users were alerted to near-term volatility one session before a 26.3 percent selloff in shares of Hain Celestial after the company announced it would miss guidance. Sources told Benzinga that Hain’s lack of earnings date disclosure signaled significant near-team news.
Charter Communications (NASDAQ: CHTR) Added to the S&P 500
Benzinga users benefited from 6.7 percent upside after Benzinga reported that Charter would be replacing EMC in the S&P 500 one day before the official announcement.
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