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Geezeo Takes Investment From TheStreet.com With Option To Buy
Boston-based online money management tool Geezeo has taken a $1.2 million investment from TheStreet.com. The investment equals a 13% in Geezeo and the company noted that TheStreet.com has an option to purchase the company over the next year based on an equity value of $12 million. The deal also will match Geezeo with Promotions.com (recently acquired by TheStreet.com). This match will allow Geezeo to run more marketing campaigns to push their signup levels even further.
Geezeo’s tagline is, "Educated Financial Decisions." The tools they provide help you to track, monitor and review your finances to keep things in order. With the current state of the economy, Geezeo should be playing up the nature of their tool in helping stretch every dollar. This deal represents more than just an investment by a VC; it will provide significant distribution for Geezeo and increase their membership levels by joining the mainstream and leaving the tech-only market.
The other sites that TheStreet currently operates include: Stockpickr.com, BankingMyWay.com and MainStreet.com. I am curious whether any of the current U.S. online financial tools will expand internationally.
Check out my interview with the Geezeo founders. Other companies in the online money management space include Spendview and Wesabe.
Yep – it’s not just some funds and you go use them – it’s a cash+partnership which is great. Now if we could just get you guys to root for the Yankees and not those dreaded red sox, all would be well.
Hey Allen,
You hit it bro…much more than just an investment from a VC! We’re going to be able to do some amazing things.
Pete
Congrats Geezeo.com. Im looking forward to seeing what you guys can develop. I think you already have some stiff competition with Mint.