Binance is taking a $200 million stake in Forbes. “This is the first step into a marketplace that has really high potential when it comes to adoption of Web 3.0 based tools”
with celebrity endorsements, this is the sector's first big investment in a traditional U.S. media property.
Known for its flagship magazine and a digital publishing model that relies on contributors, Forbes has worked to diversify its revenue with licensing deals and ecommerce and direct-to-consumer efforts. The company says it reaches 150 million people through its content and events.It's a category that Binance founder and CEO Changpeng Zhao joined recently: Last month, the net worth of Zhao, who prefers to go by "CZ," was pegged atby Bloomberg News.
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