The financial news site, co-founded by outlandish TV stock analyst Jim Cramer, closed its San Francisco office on Friday, putting about a dozen journalists on the street. While the market meltdown has helped TheStreet increase its unique visitors by 27 percent in the third quarter compared to last year, the company posed a surprise loss, missed its third-quarter sales estimates and shook up its boardroom, naming Cramer as chairman, Silicon Valley Insider reports.

While firing journalists, TheStreet intends to maintain an ad-selling presence in San Francisco.

According to TheStreet’s masthead, Michael Goodman was its SF bureau chief. A source tells Conde Nast’s that Goodman will be staying with the company. (Photo credit: CNBC)

SF Press Club News

One Comment

Leave a Reply to Anonymous Cancel reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>