American City Business Journals buys Boston’s Streetwise Media
The owner of the Boston Business Journal has acquired the local online news start-up Streetwise Media Inc., which is best known for its website Bostinno.com that covers the area’s growing technology sector.
Financial terms of the deal were not disclosed.
American City Business Journals own numerous business weekly newspapers around the country, and also owns the local journal, Mass High Tech. The company is a subsidiary of New York’s Advance Publications Inc..
“While acquisitions are usually viewed as endings, we believe this is just the beginning for Streetwise,” Chase Garbarino, the company’s chief executive officer, wrote on Bostinno. “We have only scratched the surface of the possibilities for innovation within this space.”
Garbarino co-founded Streetwise in 2008 and the company also operates the website Inthecapital.com, which covers the startup community in Washington, D.C. It will remain located in Boston.
Last June, the company raised a $1.3 million from several local investors, including Jeff Fagnan of Atlas Venture in Cambridge.
“In a short amount of time, Streetwise has attracted a very loyal and robust audience that is different from but complementary to what we do at our business journals in Boston, Washington and elsewhere,” said Whitney Shaw, chief executive officer for American City Business Journal, in a release.Michael B. Farrell can be reached at firstname.lastname@example.org.