Yahoo has announced the acquisition of Commonstock, a community-based platform which provides insights for retail investors.
Commonstock, which has more than $10 billion in connected assets, enables users to link their brokerage accounts, share their portfolio's performance, and discuss their trades and strategies.
First launched in August 2020, the company also provides real-time alerts which notify users when friends make trades with the aim of encouraging the exchange of investment strategies.
Yahoo Finance, an online financial community with more than 150 million global monthly users, said that the move would help boost its existing retail investing resources and solutions.
"Our vision for Yahoo Finance is to be the premier singular destination for all our customer’s financial needs,” said Tapan Bhat, president of Yahoo Finance. “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."
He continued: "Acquiring Commonstock reinforces this vision."
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