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Financial Software - Thursday, July 12, 2007

Wall Street Research Platform TheMarkets Raises $30M

themarkets.png
New York-based TheMarkets.com, which sells research and estimates to institutional investors, today has completed a $30M Series S offering to its existing broker-owners, eleven of the world's largest investment banks.

TheMarkets.com is owned by: Banc of America Securities, Citi, Credit Suisse, Deutsche Bank,
Dresdner Kleinwort, Goldman Sachs, JPMorgan Chase, Lehman Brothers, Merrill Lynch, Morgan
Stanley, UBS Investment Bank, and Reuters.

TheMarkets sells its research to buy-side firms, primarily hedge funds, asset management, prop trading desks and private equity firms.

TheMarkets raised the cash to buy other companies, particularly those overseas. It even named an entrepreneur in residence to lead some companies.

Read - announcement

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