Social Media Fintech Stocktwits Grows with Acquisition

Note from the Publisher:  Stocktwits, a social media site for traders/investors, has acquired Sparkfin – another site that creates and updates lists of stocks editorially or via market conditions.  The announcement came on 1/18 and upon visiting the Sparkfin site this morning (1/19), it’s already been shut down (although it says it will be “sunsetted” on 1/23) with a note that their app’s features will be integrated onto Stocktwits, and to sign up there.  Not the most seamless of transitions, but ultimately, this just strengthens the Stocktwits platform, which a whole lotta people love. 

“StockTwits announced today it has completed an acquisition of SparkFin Inc., the realtime stock discovery platform which won top honors from attendees at the 2016 Stocktoberfest Fintech startup competition.

“StockTwits is the largest social platform for investors and traders, and we are growing rapidly as more people take investing into their own hands. Much like our launch of late last year, SparkFin makes it easier for newer investors to get started in markets and investing,” said Ian Rosen, CEO of StockTwits, Inc. “The addition of SparkFin is an excellent way for us to further our mission of making investing easy, fun, and profitable.”

SparkFin, launched in 2015, creates and maintains lists of stocks that are either editorially managed or based on market and fundamental data. The company was incubated by Social Leverage, and counts Math Ventures and Worldquant Ventures as investors.

SparkFin lists can also be created and voted on by users. The current most popular investing list on SparkFin is “Where Millennials Spend their Money” that caters to younger users and gives new investors investment ideas based on consumer habits.

“We have seen very strong growth since launching last year,” said Jason Pang, CEO of SparkFin. “Would-be investors who want to use SparkFin lists to get a jumpstart picking a portfolio will have a wider community with which to interact at StockTwits, and experienced investors can generate new ideas with the data.” 

SparkFin, based in San Diego, California, will continue their operations and join the pre-existing StockTwits San Diego team.

Read Original Press Release at PRNewswire