Sign up Log-In
Home Page Blog News And Another Website Gone - Benzinga Media, Valued...
Benzinga cannabis sold to Beringer Capital
Benzinga cannabis sold to Beringer Capital

And Another Website Gone - Benzinga Media, Valued at $300 Million, Gets Bought by Toronto-Based Beringer Capital

Valued at close to $300 million, Benzinga gets scooped up by private equity media giant Beringer Capital

Posted by:
 BostonBakedPete on Tuesday Oct 26, 2021

The Fast and Furious World of Weed Websites Continues as Benzinga Gets Bought by Toronto-Based Beringer Capital

Benzinga bought by Beringer capital

Another day and another website scooped up as traffic reigns supreme.

 

As quick as we can update our cannabis tech and website deals page here, another site or platform gets snapped up in a buying frenzy.  This time, Toronto-based Beringer Capital swooped in and took a majority stake in the financial and trading site, Benzinga Financial, headquartered in Detroit, Michigan. 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.
Wait, I thought you said cannabis-based sites? Isn’t Benzinga all about stocks and stock trading?

Yes, on the outside Benzinga has a look and feel like Yahoo Finance mixed with trading videos and webinars, but underneath the surface, Benzinga is one of the leading cannabis news sites, lead by lead cannabis writer, Javier Hasse. Benzinga took to the trading and financial space first, built up a large syndication base, and then pivoted as marijuana was getting legalized to create a large division of cannabis traffic.

While the terms of the deal were not disclosed, Beringer Capital said it valued the company around $300 million and took a majority shareholder stake.  Benzinga sends out daily newsletters and has a premium service, Benzinga Pro, with monthly subscriber fees ranging from $99 to $347. Benzinga claims about 25 million readers each month and over 1 million subscribers for its emails.

“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.”

CEO Jason Raznick declined to share Benzinga's annual revenue, but said revenues have grown nearly 500% in the past three years.

This deal comes on the heels of Deb Borchardt selling the Green Market Report to Crain Publishing, Dutchie getting a $350 funding round done, Flowhub getting a $19 million round done, Jane getting a $100 million infusion, EAZE delivery buying the Green Dragon MSO and rebranding dispensaries as EAZE dispensaries, PotGuide.com selling for $8.5 million to Fire and Flower, and more deals coming weekly.

You can follow the latest cannabis tech and website deals on our running blog post here!

 

CANNABIS TECH AND WEBSITES ARE READ HOT, READ MORE...

cannabis websites that are big

CANNABIS WEBSITES AND HOW THEY STACK UP, WHO HAS TRAFFIC?

OR..

ORDERING PLATFORM DUTCHIE GETS $350 MILLION

SHOPIFY FOR WEED GETS $350 MILLION IN FUNDING, NOW AT $3.5 BILLION VALUATION!

 

What did you think?

ganja leaf left  Keep reading... click here  ganja leaft right

Please log-in or register to post a comment.

Leave a Comment:

CATEGORIES

Dabs Vaping Locations History Events B2B How To Smoke News Funny Personal Story Medical Opinion Recipes Videos Technology Sexy Vote Strains Sports Interview

FEATURED

I Lost 65 Pounds Using Cannabis And Exercise
Personal Story
I Lost 65 Pounds Using Cannabis And Exercise
In 2012 my own weight had ballooned out to 265 lbs... a number that my height did not have any notable bearing on, regardless of what any well intentioned friend or relative may have tried telling me.
Why Does Cannabis Help People with PTSD So Much? Turns Out THC is the Key According to a New Study
Medical
Why Does Cannabis Help People with PTSD So Much? Turns Out THC is the Key According to a New Study
A recent study carried out by Wayne State University has indicated that a small concentration of THC, the primary psychoactive compound present in cannabis, may help patients suffering from PTSD with emotional dysregulation. The research discovered that THC would help with emotional dysregulation, mainly when used in combination with cognitive reappraisal therapy. This study from Wayne State University was published in Neuropharmacology in August 2022.
Do You Know Your NPK Ratios for Growing Weed? - Best Ratio of Nitrogen, Potassium, and Phosphorus for Marijuana Plants?
How To
Do You Know Your NPK Ratios for Growing Weed? - Best Ratio of Nitrogen, Potassium, and Phosphorus for Marijuana Plants?
Less is more in regards to feeding your cannabis plants; less is more. As you have read, difficulties related to underfeeding are treated with ease and pose a minor threat to your plant's health unless it has been completely deprived for a long time. On the other hand, overfeeding causes a slew of more difficult problems to resolve and are more likely to harm your plants.