Stocktwits is Entering India with Funding of $30 Million

USA-based Stocktwits, a social networking platform for inventors is now entering India with fresh funds in the bank of tuna of $30 million. The platform allows the investors to get together and discuss the market for stocks, futures, crypto, and foreign exchange. Alameda Research Ventures has established a partnership with Time Bridge to bring its offerings to India.

Founded in 2008, Stocktwits is the first social platform for investors. It also invented the concept of cashtags, which is a digital tool for investors interested in participating and accessing information about companies. 

The users use the dollar symbol ($) to look for specific cryptocurrencies and companies. According to the data of National Securities Depository Ltd and Central Depository Services Ltd, the number of investors in India rose by 14.2 million. It represented that during the pandemic, many new investors under the age of 25 started making more and more investments.

Currently, it has over 6 million users globally and almost one million active users every month. It saw 50% growth in 2021, and as India has shown a rise in the number of investors, Stocktwits, is planning to increase its user base by entering India.