One of the globally recognized digital assets providers, Binance has invested $200 million in Forbes. Based on the Forbes press release on Thursday, this undertaking is deliberate to influence users’ enlightenment.
Forbes is the world-renowned media company recognized for its yearly publication of the hierarchy of the world’s affluent industry magnates. The American magazine celebrates accomplishment and encourages those with aspirations to champion change and make an impact.
Binance acknowledges the part played by media in educating users and spreading secured and authorized information especially as Binance is keen on protecting the interest of its users.
Binance CEO, Changpeng ‘CZ’ Zhao in his statement said the investment in Forbes is relevant for users to meet up with the high roll of Web3.0 and other digital innovations in the industry via access to key information.
Two of Binance’s staff will attain the position of directors on the Forbes Board of Directors as an aspect of this collaboration. The Chief Communications Officer at Binance, Patrick Hillmann, and Bill Chin, Head of Binance Labs will both sit as directors once there is a final decision on the deal.
The global media company had recently published its new public status after its collaborative business with Magnum Opus, a special purpose acquisition company (SPAC) that trades publicly. Their deal was meant to be concluded in the first quarter of 2022 through which Forbes would become a publicly-traded company on the New York Stock Exchange trading and operate asl “FRBS.”
Forbes Gets Ready to Upgrade Following Major Investments
Trading with Magnum Opus and Binance will open Forbes up to opportunities to optimize its brand, and increase its business value. Forbes will be able to modify regular readers to established standard users of its new suite of products by utilizing its proprietary technology stack and analytics.
For Forbes, going public will help improve capitalization on its flourishing digital transformation, using technology and data-driven insights to establish more engrossed audiences, and associated high-quality and recurring revenue streams.
Users can now have stable memberships and subscribe regularly to access prized content and recommended stocks.