In a prime example of how a third party can create a niche community around interest-based Twitter users, StockTwits has raised its first round of funding two months after launching, reports VentureBeat. The round was led by IA Capital Partners, LLC. The amount of StockTwits’ first round has not been disclosed.
If you’re at all familiar with Twitter, then you’ll recognize its ability to get you news and useful information quickly. Get the right group of people together, and the result is a trusted source of highly relevant data. StockTwits has capitalized on Twitter’s popularity and others’ addiction for prompt news, providing an integrated service that forms an entire community around users sharing their knowledge and predictions on the market. Instead of asking “What are you doing right now?” StockTwits asks “What are you trading?”
Since your StockTwits account is tied in to your Twitter account (just use your Twitter credentials to log into StockTwits), updating on StockTwits will update your Twitter account as well. On the flip side, a regular tweet that includes a “$” and a stock symbol will be displayed on StockTwits. The most valuable aspect of StockTwits, however, is the leaderboards that highlight the most influential StockTwits users. There’s also a short list of recommended users to help you get started–connecting you with the StockTwits users that may be of great assistance.
There are a handful of other features for StockTwits that allow you to see things like the biggest gainers and losers within the stock market, but it wouldn’t hurt to build out the community capabilities for StockTwits from here. While its simplicity is part of what makes StockTwits work so well, perhaps the recent round of funding will go towards providing more information on both users and stocks.