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3
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· 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.

‍

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