Benzinga is proud to announce that Lightbank, the technology investment vehicle from Groupon co-founders Brad Keywell and , has invested $1.5 million in our company. This marks the first time that Benzinga has received outside funds and is among the largest investments made by Keywell and Lefkofsky.”Benzinga is an aggressive company that has adhered to a high standard of quality and professionalism,” said Keywell. “Its quick growth demonstrates real future potential.”
“While we’ve experienced positive cash flow from year one, it was clear we needed additional support to reach our next level of success,” said Jason Raznick, founder and Chief Executive Officer of Benzinga. “Lightbank realised the potential of what we’re trying to do. They understand our vision. We’ve accomplished a lot in a short period of time – but with Lightbank’s participation, we’ll be able to expand much more quickly.”
Benzinga is a fast-growing media company that delivers streaming news, trading ideas, financial commentary, analyst ratings, CEO interviews, and industry expertise.
Benzinga also prides itself on bringing market-moving information to the investment community. We were the first to report a major rumour that ArcelorMittal was looking to acquire U.S. Steel at $80 per share. As U.S. Steel rose 5.3% on this story, Bloomberg cited Benzinga as the source of the story.
Benzinga will use its new investment funds to add personnel and to fund initiatives to accommodate its increasing readership demands, including media technology tools and exclusive company access.
Adds Keywell, “Jason Raznick and his team have a vision to be the leader in financial media with real-time news, deep factual information and powerful commentary, all in one place. We’re pleased to support Benzinga in its efforts with one of our largest-ever initial investments.”