The financial news website, TheStreet.co.uk, is hunting for an ad
sales director and a sales team in the run-up to its launch in early
The site is a UK version of TheStreet.com, which has become one of the
best-known news services on Wall Street since its founding in 1996. It
attracts one million visitors a month and has 90,000 subscribers.
A team of investors led by Chase Capital Partners and including Barclays
Private Equity, ETF Group and 3i is pumping pounds 10.6 million into the
The money will be used to recruit editorial and sales staff. Claudia Jay
has been appointed managing director. She was previously head of product
development at FT.com, the Financial Times website.
’Advertising will be absolutely crucial to our revenue stream,’ Jay
’It accounts for approximately 50 per cent of revenue in the States and
I imagine the figure will be the same here, if not higher. We need an
in-house ad sales team because this is a very different product and we
need people out there explaining it to advertisers.’
She said that although the eventual decision would rest with the ad
sales director, the site would have a sales staff of between three and
five, expanding as subscriptions and traffic picked up.
’There will be a mixture of opportunities for advertisers,’ Jay
’As well as buying banner ads, they will be able to sponsor areas of the
site, such as the financial news or personal finance sections.’
She described the site as ’quite irreverent compared to the rather
straight, dry financial news services we’re used to in the UK’. Aimed at
’empowering the private investor’, The Street.co.uk will provide market
information and news as well as insights into particular stocks.
’In the US, TheStreet.com has more readers with portfolios worth over a
quarter of a million dollars than any other site on the web,’ she
’That’s why in our initial conversations with advertisers, they’re
biting our hands off.’
TheStreet.co.uk has hired Motive Communications to handle the media for
its launch. The pounds 5 million campaign will be split between online
and traditional media. Mustoe Merriman Herring Levy will handle the