Cryptocurrency and a stock market boom pushes TradingView to $37 million in new funding

TechCrunch | 5/21/2018 | Jonathan Shieber
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Fueled by last year’s greed-inducing visions of a crypto-currency boom and a stock market largely untethered from classical economics, TradingView, a developer of social networking and data analysis tools for financial markets, has raised millions in new venture funding.

The New York-based company just scored $37 million in funding led by the growth stage investment firm Insight Venture Partners .

TradingView - Programming - Language - PineScript - Anyone

TradingView has developed a proprietary, JavaScript-based programming language called PineScript, which lets anyone develop their own customized financial analysis tools. The company “freemium” software as a service model let’s most users connect and exchange trading tips and tricks for free, but begins charging when customers want access to more charts, data and real-time server-side alerts.

There are three payment plans beginning at $15, with a mid-tier at $30 and a high-end $60 per-month premium option.

Company - Growth - Charting - Software - Partner

The company had previously boosted its growth by offering its charting software for free to partner websites like SeekingAlpha, Bitfinex, and the Nasdaq. That strategy helped it grow to 8 million monthly active users with around 61 percent coming from direct traffic as of March of this year.

These days the company derives nearly 75 percent of its revenue from those monthly subscription plans to individual traders. TradingView’s executives think the company still has an opportunity to expand its footprint among those retail investors, but it’s also planning to make a push to serve more institutional clients with its toolkit.

Years - Company - Growth - TradingView - Co-founder

For the past seven years the company has enjoyed consistent growth, according to TradingView co-founder and chief operations officer, Stan Bokov.

For Paul Szurek, a vice-president at Insight Venture Partners, the investment in TradingView is building off of broad consumer interest in amateur speculative trading. Looking at RobinHood, Bux, and eToro as gateways for new...
(Excerpt) Read more at: TechCrunch
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