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Lots of critique on the post itself (most of which I agree with), but as others have mentioned, Stocktwits has a real business - they sell compliance-friendly s
by inthewoods 14y ago
Lots of critique on the post itself (most of which I agree with), but as others have mentioned, Stocktwits has a real business - they sell compliance-friendly social network tools to public companies - apparently about 150 of them for $1500/month. That's about $2.7m in revenue if those numbers are correct. They also have PRO accounts for $500/month - no idea the number of accounts. Obviously the numbers could be bullshit, but I've seen a fair number of Fortune 500 companies (Shell Oil, etc) using their service.
It's been a while since I looked at their site/tools, but I thought built their own Twitter that runs alongside Twitter, although I'd be curious what percentage of posts end up on Stocktwits network vs. Twitter. If that is still the case, clearly they were concerned about being overly dependent on Twitter.
My point is just that the $ isn't the business - and honestly, I don't see why this does anything but make their lives actually easier. That's my main complaint - what does this change for Howard? Maybe it makes it easier for a competitor to build something similar, but what was really stopping them in any case? Couldn't a competitor have just adopted the same methodology?
No connection to the company - just thought the info might be useful.
- jcuervo 14y agoHoward does sound like he is complaining, not sure why. I had heard him talk at event where he did say they built their own platform independent of Twitter.