Amazon.com, Inc. (NASDAQ:AMZN), Salesforce.com Inc (NYSE:CRM) – Trading.TV Secures $8 Million Funding Round Led by Lightspeed Venture Partners
Trading.TV, a social live-streaming and immersive chat platform for traders and financial content creators, announced Thursday that it has raised $8 million in a funding round led by Lightspeed Venture Partners.
Trading.TV is also launching an iOS, Android and desktop platform. Benzinga spoke with the CEO and Founder of Trading.TV Tobias Heaslip.
The context: Heaslip is a financial markets veteran who has spent nearly a decade in analysis and trading at major buy and sell institutions.
having helped to take facebook inc. (NASDAQ: FB), Groupon Inc. (NASDAQ: GRPN), and Snap inc. (NYSE: SNAP), among others, the public, the founder said he sees a unique opportunity given the advances in market structure and engagement on social media platforms.
“As a trader, you’re always looking for the next big secular theme,” he said. “In 2019, I started to feel like there were two major secular trends that were going to last at least 10 years.”
The first was the emergence of the creator economy – individuals monetizing the pursuit of their passion – and the retail revolution in terms of democratizing the trading of stocks and alternative assets through platforms. like Robinhood, Coinbase and Rare.
This thesis fueled the creation of Trading.TV in 2020, the fintech love child of Amazon Inc. (NASDAQ: AMZN), owned by Twitch and Salesforce Inc. (NYSE: CRM) is owned by Slack.
“We’re the world’s leading social live streaming and immersive chat platform for traders and financial content creators,” Heaslip said of the platform’s content covering everything from stocks and options. to cryptocurrency, NFTs, trading cards and sneakers.
“Creators come to the platform, create content via live stream and video on demand, and there’s immersive chat.”
Updates: Almost six months after launching a desktop web app as a proof of concept, Trading.TV is launching a full mobile app experience.
Initially, the app will allow users to buy and sell stocks directly from live feeds. Later, cryptos, NFTs and collectibles can be added.
“We’ve learned that our audience is younger and mobile-first,” Heaslip said of the company’s initial pivot and adding shorthand content with asset tags. “It’s a mechanism to introduce new users to creators…it’s a challenge to get users to watch longer format content, initially, because they come to the platform to the first time.”
Heaslip gave the example of a creator making a 90-second video expressing his opinion on the Facebook stock. Other users can watch the same video and discuss this information directly.
“The hope is that this then leads to higher conversion for people to watch a longer form video where obviously the creator has the ability to give much more detailed information.”
Early in development, Trading.TV also discovered new ways to monetize beyond collecting a tax on tips and donations.
This includes advertising and possibly hosting community building initiatives for listed companies.
“We have just been inundated with B2B partnership initiatives because there is no platform for businesses to spread their story, build community and advertise at will.”
Views: Going forward, the use of proceeds from this round of funding will depend on community feedback.
“Whether you have 10 or 100,000 users, the most important thing is to develop a sticky product.”
By enticing new and existing users to join, create, communicate and trade, Trading.TV is turning to NFT tokens and rebates.
“We toyed with the idea of providing user discounts based on trades,” Heaslip said. “Our belief is that we should find a way for all parties to participate in the revenue stream.”
Ultimately, Trading.TV merges content creation on platforms like TikTok and Instagram with live trading, making it an education-focused on-ramp for navigating volatile markets.
Premium: Creators who have engaged with Trading.TV include Group Chat, Asset Entities, OBR Investing, Nick Black, Bruno Crypto, Kamal Hubbard and Christon “The Truth” Jones.
The company plans to grow its existing $1 million creator fund by funding it up to 10% of its platform’s total revenue. The goal is to make creators on TTV the highest paid on the Internet.
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