StockTwits Acquires Chart.ly For Stock Talk On Twitter
StockTwits is a service that is used to discuss stock trends through micro-blogging service Twitter. Recently StockTwits acquired Chart.ly, a stock chart service that tracks activity on StockTwits, making this acquisition sound ideal. When using Twitter, you can write about a stock, have it reported on StockTwits, and add a link to a stock chart using Chart.ly.
Howard Lindzon is the founder of StockTwits. Lindzon previously founded Wallstrip which was acquired by CBS. Chart.ly was started by Adarsh Pallian. StockTwits owns the code that Pallian wrote now. Pallian will remain with StockTwits to oversee the development of the website and help with advertising deals. Pallian had paid less than $10,000 for the development work and will split ad revenue on Chart.ly 50-50 with StockTwits.
When Pallian first started Chart.ly, he approached the StockTwits team to ask if he could create software for them. StockTwits decided against it since they were very busy already. StockTwits currently has 70,000 followers on Twitter. About 3,000 charts have been created on Chart.ly.
[via TechCrunch]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry