Yahoo has acquired Commonstock, a social platform designed for retail investors to connect their brokerage accounts, enabling them to share their portfolio performance and discuss trades and strategies. The financial details of the acquisition were not disclosed.
Launched in 2020, the Commonstock app serves as a social layer across various brokerages. Users can link their accounts and share real-time portfolio data (represented by percentage changes rather than dollar amounts), performance metrics, and trades.
The platform provides users with real-time alerts when their friends make trades and fosters discussions around investment strategies. Commonstock raised $25 million in 2021 and currently has over $10 billion in connected assets. It is now part of Yahoo Finance, which boasts more than 150 million global monthly users.
Tapan Bhat, president of Yahoo Finance, noted, “Our platform caters to every stage of the investment process—providing pre-trade market news and analysis, facilitating engaging pre- and post-trade conversations within our community of like-minded investors, and offering effective self-directed portfolio management tools and insights. Acquiring Commonstock reinforces this vision. The Commonstock team has built a trusted community that shares high-quality insights and knowledge, helping everyday investors create wealth.”