One of the iconic names of the dot.com bubble, the finance website TheStreet. com is booming again.
Private investors are flocking back to hear its high-octane share tips, given a new technological twist this time with the launch of downloadable podcasts.
The business is being driven by its founder and contributor Jim Cramer, whose tips, delivered in a bullish style reminiscent of the dot.com boom, routinely send share prices soaring. His "Mad Money" podcasts are usually the most downloaded business-themed item on iTunes, and TheStreet.com syndicates his radio show across the US.
Thomas Clarke, the chief executive, said: "We enjoy a perfect world situation with Jim, where he is both a content contributor and a promotional vehicle for us that's very positive."
The company's first-quarter results yesterday showed TheStreet.com returned to the black, posting a record quarterly profit of $2.6m (£1.5m)
The revival of the US stock market has drawn private investors back into share trading, and revenues from subscriptions to TheStreet.com's financial news and information services rose 41 per cent in the first three months of the year. Advertising revenues, too, are soaring, up 54 per cent. TheStreet.com celebrates its 10th anniversary this year. It was one of the pioneering finance websites which fuelled the private investor boom that pushed tech stocks to unsustainable levels in 2000. A UK version was shut down after just nine months in 2000.
The company's shares tripled to $60 on their Nasdaq debut in 1999, valuing the company at $1.4bn, but have long since collapsed. They rose back above $9 for the first time yesterday.Reuse content