âTogether with our already strong cash flow and balance sheet, this round of financing will propel our growth in the coming years. The funding will enable us to pursue strategic investments and acquisitions, as we continue to expand globally by leveraging our existing distribution platform and our unique relationships with the sell-side to introduce new products and services requested by our clients.â
Gary Offner, a Board Member of TheMarkets.com and Vice President, Institutional Equities Division Strategic Investments at Morgan Stanley, one of five lead investors, agreed, stating, âThe economics of TheMarkets.comâs business and its prospects are very compelling.â Hugh Aller, TheMarkets.com Board Member and a Managing Director in Citiâs Global Equities business, said, âOver the seven years since its founding, TheMarkets.com has become a vital link between the needs of the buy-side and the services of the sell-side and has done a tremendous job growing its business, while serving the needs of both constituencies.â
âTheMarkets.com has a proven management team and a sound business model,â said Mark Steinert, new Board Member of TheMarkets.com and Global Head of Research at UBS, also an owner. âWe view the Company as an ideal vehicle through which to develop new tools for the buy-side that uniquely leverage our services, and we were delighted to be a significant investor in the round.â
As part of its focus on continued growth, TheMarkets.com has increased the depth of its senior management team with the appointment of Jean-Marc Levy as Chief Financial and Development Officer, leading the Companyâs finance, administration, and business development activities. Levy, for the past five years, has acted as a strategic advisor to the Company and been instrumental in its industry-leading growth. In addition, he brings 20 years of senior management and business development experience with financial and information services companies such as the Thomson Corporation, Moodyâs Investors Service, Shearson Lehman Brothers, and the Dun & Bradstreet Corporation.
At the same time, Scott Rosen joins TheMarkets.com as the Companyâs first Entrepreneur-in-Residence, a newly created position, in which he will work with the senior management team to identify and capitalize on new strategic growth opportunities for TheMarkets.com. Rosen brings nearly 20 years of experience in corporate strategy, at a variety of leading financial services firms, including I/B/E/S, prior to its acquisition by Thomson Financial, where he directed research and analysis activities, and later Thomson Financial, where he led the First Call research business and directed product strategy and innovation.
âJean-Marc and Scott bring successful track records and unparalleled expertise in the financial information and technology space,â said Eisner. âBut even more than that, they bring the kind of leadership and vision that we look for when strengthening our team. I am excited by their involvement in the next phase of our growth as a company.â