Yahoo acquired Commonstock, a San Francisco, CA-based broker-agnostic social and community-based platform.
The amount of the deal was not disclosed.
The acquisition extends Yahoo Finance’s capabilities to social investor communities and community-driven context. The team will join the Yahoo Finance organization.
Launched in August 2020 by CEO and Founder David McDonough, Commonstock is a platform for retail investors that enables users to link their brokerage accounts, share their portfolio’s performance, and discuss their trades and strategies. Its real-time alerts notify users when friends make trades, encouraging the exchange of investment strategies and fostering a collaborative investment environment.
With more than $10 billion in connected assets, Commonstock has received investments from Coatue, QED, Floodgate, Upside Ventures, Resolute Ventures, and Abstract Ventures, as well as renowned investors such as Philippe Laffont, Bill Ackman, Ari Emanuel, Michael Li Jin, Turner Novak and Jill Carlson.
FinSMEs
24/08/2023