Back
~
3
min read
· Posted on
February 21, 2024

Binance will invest US$200 million in Forbes

Just two years after it sued the media publication for defamation...weird, right?

What's the key learning?

  • Cryptocurrency exchange, Binance, is investing US$200 million into media publication Forbes
  • Binance's CEO says this is a strategic investment to buy influence
  • Forbes has around 150 million readers, and it's a trusted brand. So, Binance's investment could help sway the narrative around crypto.

Background: Binance is a cryptocurrency exchange. In fact, it's one of the biggest in the world in terms of daily trading volumes.

What happened: Binance is investing US$200 million in media publication Forbes - ya know, the one famous for its 30 under 30 lists that make you reassess your life.

What else: The weird thing about this is...Binance actually sued Forbes back in 2020. But Binance's CEO says it's all about buying influence.

So what's the key learning?

💡When assessing whether to make an investment in another company...there are a number of considerations at play.

💡It could be...

  • To find cost synergies between the companies and reduce expenditure
  • To gain a majority stake in a business and control or influence its future
  • For strategic purposes - aka, a company wants to achieve a certain goal, and invests in another company to get there.

💡 Forbes has around 150 million readers, and it's a trusted brand. Crypto on the other hand...doesn't have the best rep. So, by investing in Forbes, Binance can control the narrative around crypto and help build consumer understanding and education.

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
No items found.