Binance, the exchange house with the highest volume of operations in the global arena, made an investment in a stake equivalent to 200 million dollars in the magazine and digital portal Forbes, the iconic brand of business information that summons and selects the most influencers from around the world.
The exchange described the investment as strategic and explained that the company will execute its investment through the “assumption of subscription agreements that represent 200 million dollars of commitments in private investment of 400 million in public capital (PIPE), maintaining the PIPE of Forbes also in 400 million, proceeding according to the same terms as the other investors.
Changpeng Zhao, CEO and Founder of Binance, noted: “As Web 3 and blockchain technologies advance and the crypto market comes of age, we know that media is an essential element in generating widespread consumer understanding and education.”
Digital transformation
Forbes, through a statement, explained that they were looking for a negotiation that would allow them to project their company to the New York Stock Exchange with the symbol FRBS, in order to continue promoting the company in its digital transformation with periodic and quality income. In addition, they indicated that they planned to complete the project by the end of the first quarter of this year, for which Binance’s investment has been fundamental in its execution.
“We look forward to reinforcing Forbes’ digital initiatives as they evolve into a next-level investment information platform,” said Zhao.
The deal also allowed Binance to hold some positions on the Forbes board of directors. This is how Patrick Hillmann, director of communications and Bill Chin, director of Binance Labs, will join as members of the Forbes board of directors.
M. Rodríguez
Source: bitcoin.es
