New competition coming from TheStreetTalk.com...|
Monday January 10, 10:54 am Eastern Time
TheStreet.com expands Web presence with new sites
NEW YORK, Jan 10 (Reuters) - TheStreet.com Inc. (NasdaqNM:TSCM - news), which provides fee-based business and financial news online, said Monday it would expand by dropping subscription charges for its Web site while adding new Web sites that customers will have to pay for.
''We've already proven that we can charge for information onthe Net, as evidenced by our 100,000-strong subscriber base,'' Thomas Clarke, chief executive of TheStreet.com, said in a statement.
As part of its new network, the New York-based company will launch a commentary site called RealMoney.com and charge customers $200 per year, or $20 per month.
''The pricing is, to some degree, catching up to the tremendous increases in content,'' said a company spokesman, adding that some existing subscribers will be ''grandfathered'' in to the new site under different terms.
RealMoney.com will offer subscribers real-time commentary from financial columnists, TheStreet.com said.
Under the new initiative, TheStreet.com will convert its current site, www.thestreet.com, to a ''hub'' under the same name. The modified site, which will launch in the second-quarter of 2000, will cost nothing. TheStreet.com currently charges users $99.95 per year, or $9.95 per month, the spokesman said.
In mid morning trading on the Nasdaq Monday, TheStreet.com shares were up 1, or about five percent, at 19-1/2.
Other sites include TheStreetTalk.com, a free ''community'' offering ticker-based message boards, TheStreetPros.com, a subscription-based service corporate subscribers, and ipopros.com, a subscription-based site focusing on initial public offerings.