Yahoo expands community with Commonstock and deepens insight for Yahoo finance users
Commonstock, a broker-agnostic social and community-based platform that drives insights for individual investors, has been acquired by Yahoo. The acquisition expands Yahoo Finance’s community power and accelerates the brand’s aim to provide exceptional retail investing tools, solutions, and experiences to investors of all skill levels and skill sets
“Our vision for Yahoo Finance is to be the premier singular destination for all of our customers’ financial needs,” says Tapan Bhat, President of Yahoo Finance. From delivering pre-trade market news and analysis to fostering engaging pre- and post-trade conversations within our community of like-minded investors, our platform caters to every stage of the investment process. Purchasing Commonstock helps to reinforce this idea. The Commonstock team has established a trustworthy community by offering high-quality insights and knowledge that assist everyday investors in creating wealth. Through a one-stop shop for wise financial decisions, Yahoo and Commonstock will further empower investors of all skill levels.”
Commonstock, which debuted in August 2020, has quickly become a popular platform for ordinary investors. The platform, which has more than $10 billion in connected assets, allows users to link their brokerage accounts, share the success of their portfolio, and discuss their trades and strategy. Its real-time notifications tell users when their peers make transactions, promoting the interchange of investing methods and developing a collaborative investment environment. With over 150 million global monthly users, Commonstock will strengthen the unique features of Yahoo Finance, which is home to one of the largest and most active financial communities on the web.
“Joining Yahoo Finance is a tremendous opportunity to build community and products on the largest consumer finance stage, which will positively impact millions of loyal users,” says David McDonough, CEO and creator of Commonstock. It’s personal for me. During the financial crisis a decade ago, Yahoo Finance altered my career path. On the Yahoo Finance message boards, I was able to teach myself about the stock market and learn from other investors. The combination of Yahoo’s reach and Commonstock’s ability in developing retail investment communities is an extremely potent one. This acquisition will enable us to scale our goal, focusing on community-driven knowledge and assuring the amplification of quality insights to separate signal from noise.”
Distinguished organizations such as Coatue, QED, Floodgate, Upside Ventures, Resolute Ventures, and Abstract Ventures have made significant investments in Commonstock, as have well-known investors such as Philippe Laffont, Bill Ackman, Ari Emanuel, Michael Li Jin, Turner Novak, and Jill Carlson. The Commonstock team will join the Yahoo Finance division as a result of this transaction. The deal’s terms were not disclosed.
