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Investing Profs Where Marketwatch Meets Myspace
Dow Jones & Company acquired Market Watch for approximately $520 million in early 2005. News Corp. paid 580 million for Intermix Inc., the owner and operator of the leading, online social community MySpace.com 14 months later.What did both acquisitions have in common? In January 2007 Independent Investors Edge Inc.) acquired InvestingProfs, the parent company of InvestingProfs.com The website receives approximately 240,000 unique visitors monthly. The average number of page views per visit is 21, which means people are coming and coming back.In January 2006 Investing Profs launched Version 3.0 the site was designed with members in mind.Online social communities such as MySpace.com are increasingly becoming hot commodities for larger media companies searching for targeted advertising channels.What Investing Profs has done what has tried to do, is tap a very specific demographic investors. Unlike MySpace, which is largely inhabited by teens, InvestingProfs.com members all share one thing in common—an interest in the stock market, and finding the next ‘hot stock’ before it hits the Street. What this does for advertisers is present them with an avenue of high-level, interested, educated investors to tell their story to. InvestingProfs.com has implemented several community-building platforms including message boards, live chats, and blogs.In addition to its community-building efforts, InvestingProfs.com has focused on emerging media trends such as podcasting.
Today, with growing proliferation of MP3 players such as Apple’s IPOD, consumers are searching for on-demand channels to access media—they want there daily dose of content, and they want it now! Advertisers are getting wise to the site’s popularity and community-driven approach to media. IndustryThe online component is largely dominated by a handful of competitors, many of whom are larger companies that have been in the industry for years. These mature companies are evolving slowly into ever-changing desires of retail investment community combined with the adoption of the new economy and the digital age. Also, they are trading at very high multiple groups as evidenced by the recent acquisition of CBS Market Watch by Dow Jones for approximately 6 times trailing sales. There is n denying that this was a expensive acquisition for Dow Jones and Co., illustrating how valuable real estate is becoming and the value of there members and users.The lure of Market Watch for Dow Jones & Co. was its strong following and large Internet subscriber base. Similar to Market Watch InvestingProfs.com’s free subscription model allows a company to reach a wider audience that is not willing to pay for information-a group that advertisers are eager to reach.As evidenced by News Corp.’s recent $580 million acquisition of Intermix Media, the owner of Myspace.com, online communities are being sought after assets for established media companies search for new advertising channels
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