SigFig, a startup that tracks your investments and provides Mint-style graphics and recommendations, has reached an agreement to provide the technology for the “My Portfolios” section of Yahoo Finance, according to a source with knowledge of the partnership.
SigFig declined to comment for this post. I also reached out to Yahoo and will update if I hear back.
I haven’t heard too many details about how the partnership will work, but I’m guessing it won’t be too different from the startup’s recently launched integration with USA Today, where you can find a portfolio tracker that’s “powered by SigFig” embedded in the newspaper website’s personal finance section, which includes the full SigFig functionality.
So when the integration goes live, Yahoo’s portfolio tracking page will probably start looking a lot more like SigFig. This is a big win for a product that only launched in May of this year (the company itself is older). In fact, it’s probably an even bigger deal than the USA Today partnership, because according to comScore, Yahoo Finance remains the most popular site for business-finance news and research.
It’s also a nice shift from the team’s old guise as Wikinvest, a financial news and data site that was being pitched as a direct competitor to Yahoo Finance. With SigFig, it seems that the startup isn’t trying to challenge stablished sites like Yahoo, but instead partnering with them to build its audience.
SigFig is the easiest way to manage and improve your investments. Just sync your 410(k), IRA, trading and advisor-managed accounts to SigFig and, in less than 60 seconds, we securely pull all your investments into a single dashboard—giving you a real-time view of your investments, across all your accounts. From there, we run hundreds of tests on your investments and give you completely unbiased, data-driven investment advice you can use to tune-up your portfolio. Fix under-performing investments putting a dent...
Yahoo was founded in 1994 by Stanford Ph.D. students David Filo and Jerry Yang. It has since evolved into a major internet brand with search, content verticals, and other web services. Yahoo! Inc. (Yahoo!), incorporated in 1995, is a global Internet brand. To users, the Company provides owned and operated online properties and services (Yahoo! Properties, Offerings, or Owned and Operated sites). Yahoo! also extends its marketing platform and access to Internet users beyond Yahoo! Properties through its distribution network...
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