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Beringer Capital Acquires Majority Stake In Benzinga: What You Need To Know

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Beringer Capital Acquires Majority Stake In Benzinga: What You Need To Know

Benzinga is going to the next level, and our readers and users made it possible. 

Beringer Capital, a private equity firm focused on the media, marketing services, and technology sectors, acquired a majority stake in the stock market site Benzinga Monday in a deal valued at $300 million.

What Happened: The Detroit-headquartered Benzinga was founded in 2010 by entrepreneur Jason Raznick in the basement of his home on a $3,000 budget. Today, Benzinga has an international workforce of more than 100 professionals and a monthly readership base of nearly 25 million people spanning 125 countries.

Benzinga's flagship product is Benzinga Pro, a real-time stock market information source for individual investors that provide market intelligence that was previously only available to institutional investors.

“Benzinga is just entering the second inning of what we will build,” said Raznick.

"The partnership with Beringer drastically accelerates the timeline to realize our ambitions of what we can provide investors globally.”

Raznick added that he considers himself as Benzinga’s “co-founder” because “I truly believe Benzinga is co-founded everyday by our amazing team of Zingers who are empowered and encouraged to build everyday.”

Why It Happened: Beringer Capital has offices in Toronto and New York has a history of partnering with digital media companies and 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.

“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,” said Perry Miele, chairman 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.”

Benzinga was advised in the transaction by Canaccord Genuity. Terms of the deal were not disclosed.

Related Link: To Zingernation, Thank You For Making This Possible

 

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