Yahoo has acquired Commonstock, a social platform that lets retail investors link their brokerage accounts and share their portfolio's performance and discuss their trades and strategies. Terms of the deal were not disclosed.
Launched in 2020, the Commonstock app acts as a social layer on top of existing brokerages. Users link their brokerage accounts and share their real-time portfolio (by percent, not dollar amounts), performance, and trades.
Users get real-time alerts when friends buy or sell and can carry out discussions about investment strategies.
The firm, which raised $25 million in 2021 and now has more than $10 billion in connected assets, becomes part of Yahoo Finance, which has over 150 million global monthly users.
Tapan Bhat, president, Yahoo Finance, says: “Our platform caters to every stage of the investment process - from providing pre-trade market news and analysis, facilitating engaging pre- and post- trade conversations within our community of like-minded investors, to offering effective self-directed portfolio management tools and insights.
"Acquiring Commonstock reinforces this vision. The Commonstock team has built a trusted community, sharing high-quality insights and knowledge that help everyday investors create wealth."