INVESTools
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| INVESTools, Inc. | |
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| Type of Company | Public (NASDAQ: IEDU) |
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| Founded | Ross W. Jardine |
| Headquarters | Draper, Utah |
| Key people | Lee Barba, Chairman/CEO Ida Kane, Senior VP/CFO Tim Knight, Senior VP Technology Dale Ainge, Senior VP Student Acquisition |
| Industry | Education and training services |
| Products | Investor education |
| Revenue |  $97.169 million USD (2004) |
| Website | www.investools.com |
INVESTools, Inc. is a United States–based company. They offer investor education services over the Internet. Their business is centered around their "5-step investing formula". In January 2005 they purchased Prophet Financial Systems, Inc. [1] and embarked on a re-architecture of the widely-used Investor Toolbox. Prophet's founder, Tim Knight, was made the SVP of Technology.
In February 2005, the company announced the need to restate earnings from the prior three quarters and the two years prior due to various errors in the financial statements, mostly due to revenue recognition errors.
In addition to their corporate headquarters in Draper, Utah, they also have offices in Palo Alto, California, New York City, New York, and Houston, Texas. As of July 2005, they report having 374 employees.
Investools was formed by the merger of Telescan, Inc. of Houston, Texas, Investools, Inc. of Redwood City, California, and Online Investor's Advantage of Provo, Utah.
Telescan, founded in 1989, developed personal investing software for the PC, including the ProSearch stock screener. In 1996 it started wallstreetcity.com, a popular financial website. In 1999, Telescan purchased Investools, an online financial newsletter distribution company. The combined company struggled during the technology downturn and merged with Online Investor's Advantage, an investing seminar company. The company decided to concentrate on the investing seminar side of the business and no longer maintains the wallstreetcity.com website or its financial newsletter operations.
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