TheMarkets.com Reports Continued Growth in 2008
16 Marzo 2009 - 2:50PM
PR Newswire (US)
Triples revenues over three-year period; Launches new products;
Doubles headcount in New York and London offices NEW YORK, March 16
/PRNewswire/ -- TheMarkets.com, a leading provider of research,
estimates and workflow solutions to institutional investors
worldwide, announced today that it grew 24% in 2008, closing a
three-year period over which the Company more than tripled
revenues. To support this growth, TheMarkets.com doubled employee
headcount in both its New York and London offices, for the second
year in a row. Based in 47 countries, TheMarkets.com's client base
included over 2400 investment management firms at the close of
2008, representing a 20% year-over-year growth. The Company saw its
greatest growth rate in Asia, with a nearly 45% increase in
subscriptions in the region. Key geographies in which the client
base more than doubled include: China, Hong Kong, Russia, and the
United Arab Emirates. "With information at a premium in this
volatile market environment, investors are turning to best-of-breed
products for their most critical information -- including
TheMarkets.com for company and economic research," said David
Eisner, CEO and President. "We have seen usage skyrocket, hitting
record highs in the fourth quarter of last year. In general, the
buy-side is looking to streamline vendor relationships as a way to
cut costs during the market contraction. The fact that
TheMarkets.com continues to flourish is a testament to our focus on
delivering the best research and estimates product on the market."
During 2008, despite the economic downturn, TheMarkets.com retained
more than 90% of its clients, capping off six years with 90% or
better client retention rates. Its research and estimates platform
is now used by three quarters of the 50 biggest US asset managers,
two thirds of the top 100 European asset managers, and three
quarters of the world's 100 largest hedge funds. To answer the
buy-side's need for a source of comprehensive research,
TheMarkets.com has also focused on building direct relationships
with brokers, and recently surpassed 200 direct contributors to its
research platform. "We attribute our continued growth not only to
our must-have information and search-centric platform, but also to
our continuous innovation in delivering products that save
significant time in the buy-side workflow," Eisner said. Key
products launched during 2008 include: -- TheMarkets Meeting
Tracker: product enabling the buy-side to manage, track and
evaluate the meetings they set up through their brokers -- and
answer to regulatory requirements -- TheMarkets In Brief: digest of
analyst upgrades, downgrades, initiations and drops --
TheMarkets.com, Enhanced Version: new version of the research and
estimates platform including upgrades in performance, interface,
content, and search and alerting tools Subscriber Byron Penstock,
research analyst at RS Investments, said, "TheMarkets.com is my
primary source for broker research. It has the research and models
I need in one place, along with other company-specific data, saving
me significant time in my research workflow." About TheMarkets.com
TheMarkets.com is a leading provider of research, estimates, and
workflow solutions to over 2400 institutional investment management
firms worldwide. TheMarkets.com is owned by: Banc of America
Securities, LLC (NYSE:BAC), Citi (NYSE:C), Credit Suisse (NYSE:CS),
Deutsche Bank (NYSE:DB), Dresdner Kleinwort, the commercial and
investment banking division of Dresdner Bank AG, The Goldman Sachs
Group (NYSE:GS), JPMorgan Chase (NYSE:JPM), Morgan Stanley
(NYSE:MS), UBS Investment Bank (NYSE:UBS), and Thomson Reuters
(NYSE: TRI; TSX: TRI; LSE: TRIL: Nasdaq; TRIN). CONTACT: Jasmine
Swann TheMarkets.com +1 212.812.4631 DATASOURCE: TheMarkets.com
CONTACT: Jasmine Swann, TheMarkets.com, +1-212-812-4631, Web Site:
http://www.themarkets.com/
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