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MarketWatch

MarketWatch
Type of site
Financial Information
HeadquartersNew York City
OwnerDow Jones & Company
EditorMark DeCambre[1]
URLmarketwatch.com
LaunchedOctober 30, 1997; 26 years ago (1997-10-30)
Current statusOnline

MarketWatch is a website that provides financial information, business news, analysis, and stock market data. It is a subsidiary of Dow Jones & Company, a property of News Corp, along with The Wall Street Journal and Barron's.

History

The company was conceived as DBC Online by Data Broadcasting Corporation in the fall of 1995.[2] The marketwatch.com domain name was registered on July 30, 1997.[3] The website launched on October 30, 1997, as a 50/50 joint venture between DBC and CBS News, then run by Larry Kramer[2] and co-founder and chairman, Derek Reisfield.[4] Thom Calandra was its first editor-in-chief.[5]

In 1999, the company hired David Callaway and in 2003, Callaway became editor-in-chief.[6] In January 1999, during the dot-com bubble, the company became a public company via an initial public offering. After pricing at $17 per share, the stock traded as high as $130 per share on its first day of trading, giving it a market capitalization of over $1 billion despite only $7 million in annual revenues.[2] In June 2000, the company formed a joint venture with the Financial Times[7] with Peter Bale as managing editor.[8]

In January 2004, Calandra resigned amidst allegations of insider trading.[5] In January 2005, Dow Jones & Company acquired the company for $528 million, or $18 per share.[9]

In May 2016, MarketWatch hired Dan Shar as general manager[10] In October 2020, MarketWatch announced that it would become a paywalled subscription-based publication, in order to "raise the ambitions of our journalism".[11] Mark DeCambre was named editor in chief on March 21, 2022.[12]

See also

References

  1. ^ "Mark DeCambre named new editor in chief of MarketWatch". marketwatch.com. March 17, 2022.
  2. ^ a b c Kramer, Larry (October 30, 2017). "The history of MarketWatch: How a sports data startup became a half-billion-dollar financial news site". Marketwatch.
  3. ^ "Whois Record for MarketWatch.com". Domain Tools.
  4. ^ "Contribution Agreement - CBS Inc., Data Broadcasting Corp. and MarketWatch.com LLC". Sample Business Contracts. Retrieved January 8, 2024.
  5. ^ a b "MarketWatch commentator resigns amid probe". NBC News. Associated Press. January 23, 2004. Archived from the original on July 9, 2023.
  6. ^ O'Shea, Chris (July 10, 2012). "David Callaway, MarketWatch Editor, Named USA Today EIC". Adweek. Archived from the original on July 9, 2023.
  7. ^ "Joint Venture Agreement – Financial Times Group Ltd., MarketWatch.com Inc., Pearson Internet Holdings BV and Pearson Overseas Holdings Ltd". FindLaw. June 19, 2000. Archived from the original on July 9, 2023.
  8. ^ "FT Marketwatch Appoints Managing Editor". Pearson plc. March 20, 2000. Archived from the original on August 26, 2021.
  9. ^ "Dow Jones & Company closes $528 million MarketWatch acquisition" (Press release). U.S. Securities and Exchange Commission. January 24, 2005. Archived from the original on July 9, 2023.
  10. ^ Roush, Chris (May 17, 2016). "MarketWatch.com hires general manager". Talking Biz News.
  11. ^ Guaglione, Sara (October 26, 2020). "'MarketWatch' Adds Paywall, 'WSJ Magazine' Reduces Print Frequency". MediaPost.
  12. ^ "Mark DeCambre named new editor in chief of MarketWatch". MarketWatch. Retrieved April 23, 2022.
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MarketWatch
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