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.
Microblogging is popular, and stock investors needs this real time information service, that’s a good service.
StockTwits feels like a giant random chat room.
I haven’t figured out the best way to grok the information.
Investors need real-time *useful* information.
http://www.traderbots.com
the only problem w/ stocktwits is they ban very reputable investors on the stock for no good reason. I seen a lot of people get banned who I followed. bullson.ws is a better community IMO since their founders are helpful and not as strict as ST
It would be better if they expand their presence globally..
only thing on the webs where the cream rises ..
Going to be difficult to get rid of the junk marketing on this service.
Say I’m in Finance and get commissions for pumping a certain company… yeah! I’ll just spread the junk on StockTwits.
If I’m a serious player why would I want to spread breaking news with competitors and loose out on profit margins?
To answer your question, it is NEVER about the little guy anymore. They are pawns for the source.
ST is built to grow and get bought for big bucks. That’s all.
I can’t help feeling that Twitter is letting many monetization opportunities pass them by. shouldn’t they be trying to keep sprouter, stocktwit users etc. on the main platform by giving them the tools they need?
Its very cool to see Stocktwits receiving Series B funding, seems like a solid idea. Having their own platform was a good idea, I plan to keep an eye on these guys.