StockTwits Closes a $3 Million Series B Round and Looks to 2010
- December 2nd, 2009
Since launching a year ago, we have been moving very quickly to build a real time financial media company amid a landscape of transformation within the industry.
If you’ve ever tagged a tweet with the $$ or tweeted a stock symbol using that $ tag you’ve participated in the StockTwits conversation. StockTwits uses the familiar Twitter microblogging format (140 characters) and allows users to seamlessly cross-post to and from their Twitter stream. Users can tag their Twitter posts with the $ tag to be picked up in StockTwits, can use the StockTwits web interface or download the StockTwits Desktop for even greater functionality. (we’d highly recommend the desktop client – you can get it here if you don’t already have it)
In addition to the Desktop, we have launched numerous network sites, and added many features which allow real people to better communicate their views on markets and to survey the views of others for actionable information. In the process, we have managed to tap into an astounding amount number of talented people who make up a growing, thriving StockTwits community. As well, we see huge opportunities in this space going forward and have specific plans to add features which will enhance the StockTwits experience in a big way.
With the additional funding, we will be able to iterate execute on our strategy decisively.
Below is a bit more about where we are now and some hints about where we are heading.
Filtering, Curation and Discovery: The picture below shows The Suggested Options Stream. Here we have organized some of the very best options traders in one stream. The result is simply incredible information flow for those who are focusing on options. We will have much more of this curation and filtering process coming so whether your focus is a specific equity sector or grain futures, you will have best minds real time organized and at your fingertips.
StockTwits TV: StockTwits TV has been an incredible addition to the StockTwits stream – providing video commentary from top traders and investors in real time. We will be upgrading technology and launching new, very original programming in January of 2010.
Depth: We are and will continue to focus on helping our community drill down into data concerning a specific asset. Below is a shot from The StockTwits Desktop of an individual stock. Expect a level of real time granularity going forward that will knock your socks off.
Mobile: We plan to expand mobile presence in the near future. Nasdaq used our API to launch StockTwits streams in its Qfolio iPhone App, and this month we plan on releasing a Stocktwits native Blackberry App and other mobile apps for those trading on-the-go.
I have been friends with the partners at Foundry Group for a long time. Seth Levine, who will be joining Tony Conrad and Roger Ehrenberg on our Board, had this to say about Foundry’s investment thesis:
“For us, StockTwits represents a unique opportunity to leverage the increasingly active conversation taking place on (and off) the Twitter platform around stocks and markets. We’ve witnessed in other investments the power of 3rd party networks driving the scale and reach of new businesses and we believe StockTwits represents a huge opportunity to harness the Twitter community’s ongoing conversation around stocks and investing.”
Only 10% of an iceberg sits above the water with 90% below the surface. StockTwits is similarly situated. You ain’t seen nothing yet!.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
StockTwits® is an open, community-powered idea and information service for investments. Users can eavesdrop on traders and investors, or contribute to the conversation and build their reputation as savvy market wizards. The service takes financial related data and structures it by stock, user, reputation, etc. More »