And one more website has disappeared – Benzinga Media, valued at $ 300 million, is being bought by Beringer Capital, based in Toronto

Another day and website as traffic comes first.

As soon as we can update our cannabis technology and website deals page here, another website or platform will be caught in a shopping frenzy. This time, Beringer Capital, based in Toronto, threw itself out and took over the majority stake in the financial and trading platform Benzinga Financial, based in Detroit, Michigan. Beringer Capital has offices in Toronto and New York and has a long history of partnering with digital media companies helping them adapt and thrive in a rapidly changing business landscape. Earlier this year, the company announced the acquisition of Inman News, a leading source of news and intelligence for the real estate industry.
Wait a minute, I thought you said cannabis based websites? Isn’t Benzinga just about stocks and stock trading?

Yes, on the outside, Benzinga looks like Yahoo Finance mixed in with trading videos and webinars, but beneath the surface, Benzinga is one of the premier cannabis news sites, led by leading cannabis writer Javier Hasse. Benzinga first turned to the commercial and financial sectors, building a large syndication base, and then switched when marijuana was legalized to create a large division of the cannabis trade.

Although the terms of the transaction were not disclosed, Beringer Capital said it has valued the company at approximately $ 300 million and acquired a majority shareholder stake. Benzinga sends out newsletters daily and has a premium service, Benzinga Pro, with monthly subscription fees between $ 99 and $ 347. Benzinga claims around 25 million readers and over 1 million subscribers to its emails every month.

“We are excited to partner with Jason and the team at Benzinga, a company at the forefront of trends affecting the next generation of investors,” said Perry Miele, Chairman and Managing Partner at Beringer Capital. “To date, Benzinga has done a remarkable job of differentiating its offerings and building a lively, engaged community across its various platforms. We look forward to building on this impressive path and working closely with his team on exciting new offerings that will enable more investors to take control of their financial futures. “

CEO Jason Raznick declined to share Benzinga’s annual revenue, but said revenue has increased nearly 500% over the past three years.

This deal follows Deb Borchardt’s sale of the Green Market Report to Crain Publishing, Dutchie receives a $ 350 funding round, Flowhub a $ 19 million funding round, Jane a $ 100 million infusion, EAZE delivery buys The Green Dragon MSO and Rebranding Pharmacies as EAZE Pharmacies, PotGuide.com sells for $ 8.5 million to Fire and Flower and other weekly deals.

You can keep up with the latest cannabis technology and website offerings in our ongoing blog post here!

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