Binance Makes a New Strategic Investment in Forbes
Forbes has released a press note to break the news about Binance’s plan to make a strategic investment in the company. It will be worth $200 million and will form a part of the existing PIPE, short for private investment in public equity, of $400 million without changing any values.
The strategic investment from Binance will assist Forbes to deliver content better and deploy more recurring revenue streams on the platform.
Background
Binance works in the field of providing infrastructure services related to blockchain technology and cryptocurrency. It dedicates all its operations to increasing the freedom of money for users.
The solutions provided by Binance include trading & finance, investment, research & data, and education, to mention a few. Read our Binance review for more details.
Forbes is a trusted name in journalism that has become a household name. Content written and data generated by Forbes has a positive impact on nearly 150 million people.
The global media focuses on various sectors with influential leaders and public figures at the center. It focuses more on change-driven entrepreneurship.
Magnum Opus is a special purpose acquisition company. It mainly collaborates with companies that are closer to getting public. The aim is to offer support to the companies in realizing their vision throughout the process of going public.
It is a partnership of public & private market investment specialists and enterprise builders, with each having a lot of experience in operating and investing in a business through its different stages.
Binance’s Strategic Investment In Forbes
Binance is all set to make a strategic investment in Forbes by joining forces with Magnum Opus. The strategic investment will be approximately worth $200 million. This will be a contribution to the total value of PIPE of $400 million.
Even though Binance makes its strategic investment, the values for other investors will remain unchanged.
The business combination of Binance and Magnum Opus is expected to close in the first quarter of 2022. Following this, Forbes will go public under the symbol of FRBS.
While Binance will help in formulating strategies related to the digital assets and Web3 applications of Forbes, the public listing will give Forbes a competitive edge of capitalizing on its digital transformation, creating higher engagement with the audience, and deploying streams that will generate revenue regularly.
The strategic investment made by Binance will follow the terms that already exist in the PIPE. It will help Forbes to maximize the value of its brand and enterprise. Forbes will also get access to the proprietary technology stack and analytics.
Both will enable Forbes to convert its visiting readers into long-term readers.
Changpeng ‘CZ’ Zhao, the Founder and Chief Executive Officer of Binance, stated on this occasion to call media an essential element in educating people about the emerging trends of Web3 and blockchain technologies.
He added that he was looking forward to many more digital initiatives from Forbes.
Mike Federle, the Chief Executive Officer of Forbes, also issued a statement to highlight the commitment of the company in demystifying the complexities and providing helpful information about upcoming digital assets and blockchain technology.
