StockTwits, a social and microblogging service for stock investors, has pulled down another round of financing – $3 million in a Series B round led by Colorado-based Foundry Group. Foundry Group partner Seth Levine joined the company’s board of directors, and True Ventures, an investor from earlier this year, also participated in the round.
The service launched just a year ago as a way for Twitter users to organize, share and discover their thoughts on public company stocks: “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.”
In September the service moved on from Twitter and built their own platform and Air desktop application. They kept the familiar 140 character format for messages, and users can easily cross-post to and from Twitter.
StockTwits is also part of an official NASDAQ iPhone application.
Traders are clearly enamored with the product and love the constant stream of company/sector specific data. And new products, like StockTwit TV, seem to be a hit (even if, for most people, listening to stock talk is like watching paint dry). The service will expand greatly next year, says CEO Howard Lindzon.
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