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.”
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