#StartupNews TradingView: how to create a social network for | Idea factory
#StartupNews
TradingView: how to create a social network for traders worth $3 billion
Country: Russia
Business model: social media
Valuation: $3 billion
Over the last year the number of users has increased by 240%. Now TradingView is monthly visited by 30 million users, which makes it the most popular website for traders in the world. Major entrepreneurs like Sam Yagan have invested in the company. Let’s work out why they succeeded.
Concept
TradingView provides an interactive trading platform. Users can make posts, comment on each other, like and subscribe to interesting authors. This way users can put charts with the freshest stock data: both traditional and cryptocurrency. According to Pierce Crosby, TradingView CEO, the users may not only trade but also analyze market information, discuss it, and share ideas.
The startup has also a particular monetization model. Advertising brokers, stocks or bonds would be an obvious choice. TradingView decided to sell a subscription, though. There is one free subscription and 3 types of paid ones with additional functions.
Advantages
Paid tariffs show expanded analytics: new types of diagrams, combining tools on the same chart, etc. System is very powerful, indeed, overpacking Google and Yahoo Finances. The recommended tariff costs $30, though the traders are supposed to earn $10,000+ on it.
How it began
The company was established in 2015. The founders are Ivan Konstantinov and Denis Globa. Their idea was to help people learn about markets by means of discussions. The first office was in a Russian port city — Rostov-on-Don. The startup qualified for TechStars and signed contracts with Microsoft and CME. In 2017, TtadingViews was recognized as the best analytical platform.
Investments
In 2018, the company raised $37 million from such funds as Insight Venture Partners, DRW Venture Capital и Jump Capital. Over the latest investment round, TradingView managed to attract $300 million. The major investor is Tiger Global Management.
Thanks to new investments, the startup plans to develop the brand all over the world and also integrate with the largest broker firms.
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