Yahoo introduced it has acquired Commonstock, “a broker-agnostic social and community-based platform that drives insights for retail buyers.”
Yahoo Finance is among the hottest locations on the net for funding information, and Yahoo sees a chance to broaden the insights its offers with Commonstock.
“Our imaginative and prescient for Yahoo Finance is to be the premier singular vacation spot for all our buyer’s monetary wants,” stated Tapan Bhat, President of Yahoo Finance. “Our platform caters to each stage of the funding course of – from offering pre-trade market information and evaluation, facilitating partaking pre- and post- commerce conversations inside our neighborhood of like-minded buyers, to providing efficient self-directed portfolio administration instruments and insights. Buying Commonstock reinforces this imaginative and prescient. The Commonstock staff has constructed a trusted neighborhood, sharing high-quality insights and data that assist on a regular basis buyers create wealth. Collectively, Yahoo and Commonstock will additional empower buyers of all expertise and ranges by way of a one-stop store for sensible monetary choices.”
Commonstock already has 150 million month-to-month international customers, considerably rising Yahoo Finance’s person base.
“Becoming a member of Yahoo Finance is an amazing alternative to construct neighborhood and merchandise on the biggest shopper finance stage, which can positively affect hundreds of thousands of loyal customers,” stated David McDonough, CEO and founding father of Commonstock. “For me, it’s private. Yahoo Finance modified my profession trajectory throughout the monetary disaster over a decade in the past. I used to be capable of educate myself concerning the inventory market and discovered from different buyers on the Yahoo Finance message boards. The distinctive mix of Yahoo’s attain and Commonstock’s experience in creating retail funding communities is an extremely highly effective mixture. This acquisition will permit us to speed up our mission at scale, emphasizing community-driven data and guaranteeing the amplification of high quality insights to separate sign from noise.”
Phrases of the deal weren’t disclosed.