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. Benzinga also covers the cannabis business worldwide.
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. “Partnership with Beringer drastically accelerates the timeline to realize our ambitions of what we can provide investors globally.”
MIMarijuanaReport.Com is partnered with Benzinga.