TheStreet.com has done an interesting deal with one of its independent columnists: it has taken a 49.1 percent stake (presumably after investing in the venture) in James Altucher’s stock recommendation site Stockpickr. Altucher’s company A.R. Media will own the other 50.1 percent.
The site adds a layer of social networking into the mix: it will allow its members to compare their portfolios to others in the network, scan portfolios for investment ideas and communicate with fellow investors.
The service is ad supported and ad sales will be done by the TSCM team. Stockpickr will also provide content to TheStreet.com, as well as other forms of integration will happen. some more details in Altucher’s column here and the release here.