SocialInSight Buys SocialPicks

New York-based SocialInSight has acquired SocialPicks, an online social community focused on investing. Terms of the deal were not released. SocialInSight purchased SocialPicks from FinancialContent Services. SocialPicks was backed by $500,000 in Series A funding from Bay Partners.

PRESS RELEASE

Manhattan-based company SocialInSight has acquired SocialPicks (www.socialpicks.com), an online community positioned at the intersection of social media and investing. SocialInSight purchased SocialPicks from FinancialContent Services for an undisclosed amount. The deal includes a formal partnership between

the two companies.

 

SocialInSight helps online consumers leverage social media to improve

investing performance and has plans to provide financial institutions

with social business performance tools.

 

“We believe that the acquisition of SocialPicks will accelerate the

adoption of our social investing tools by capitalizing on a trusted

brand that is already familiar to online traders and investors,” said

Jeff Tompkins, CEO of SocialInSight.

 

“We are confident that SocialInSight has the expertise and experience

to realize the vision of making SocialPicks the online investment

community with the best tools and interface to leverage the collective

knowledge of its members,” added Wing Yu, CEO of FinancialContent.

 

FinancialContent (www.financialcontent.com) is a leading

business-to-business provider of stock market data, business news and

content syndication services. They serve over 250 publishers and

deliver more than 300 million widgets and web pages a month.

 

SocialInSight will begin immediate private testing of several new

social investing apps with members of the SocialPicks online community

and has plans to re-launch the site this fall. SocialPicks established

itself as one of the largest and fastest growing social investing

communities. As a forerunner of the 2007 Y-combinator class,

SocialPicks received $500k in Series A funding from Bay Partners that

same year. FinancialContent acquired SocialPicks in 2009.

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