Public, a NYC-based provider of an investing platform where members can invest in stocks, options, bonds, crypto, and alternative assets, acquired the TradeApp investment accounts from Stocktwits.
The amount of the deal was not disclosed.
Stocktwits will continue focusing on its community and real-time discussions around earnings and cryptocurrency offerings. Once the acquisition closes, tens of thousands of Stocktwits brokerage customers will migrate to the Public investing platform and join the larger Public community. Stocktwits members joining Public will have access to a wide range of investing products. Assets available on Public include stocks, ETFs, options trading (where members can get a rebate on every option trade), crypto, bonds, and alternative assets like investing in art or music royalties.
Public offers an investing platform that makes building a multi-asset portfolio fast and secure. Members can invest in stocks, options, bonds, crypto, and alternative assets—all in one place. Members can also access real-time and historical fundamental data and custom analysis with Alpha, the AI for investors.
Led by Howard Lindzon, Co-Founder and CEO, Stocktwits provides a dedicated social media platform for investors and traders that has built an active community of over 8 million users.
All members with a brokerage account on Stocktwits will have access to the community and social feed, and the Stocktwits business will continue to operate. Customers who do not want to transfer to Public will have the option to object to transferring their accounts during a 30-day window, after which accounts will transfer to Public in connection with the closing of the acquisition. Members transferring their account to Public will be able to access all their funds and investments in the Public platform after they review and accept terms and conditions.
FinSMEs
21/04/2024