StockTwits is a social media platform to exchange ideas between investors, traders, and entrepreneurs. It was founded by Howard Lindzon and Soren Macbeth in 2008.
In the same year, this company received the Shortly Award in the finance category. In 2010, Time magazine listed it as one of the 50 best websites. In 2012, it was renowned as one of the top 10 most innovative companies in finance. It has more than 230,000 active members and over one million registered community members.
Entrepreneurs aiming at entering the financial services industry can go ahead with the StockTwits Clone app development. This blog gives valuable information about the growth of StockTwits and the process of developing a similar app.
Growth Of StockTwits Along With Stats And Facts
StockTwits is an open & community-powered idea for investments. Using this, traders or investors can share their business ideas and develop their reputations. It is a US-based company with its headquarters in New York.
It is reported that this company’s revenue generation is currently about $11.8 million per year. Rosen, a co-founder of Even Financial and former general manager at MarketWatch, has taken the CEO position in StockTwits. This was made to accelerate the growth of a business and continue to monetize the platform. He said that “We want to expand the audience wider & deeper and add some premium features for the most engaged users.”
StockTwits gains attention from more than 1.5 million monthly active users. Among them, nearly 60% of the users are young professionals less than the age of 44. Undoubtedly, the data business is booming as there is deep intelligence in the stream which can be packaged and distributed to a wider audience.
StockTwits also added paid services for companies to manage and monitor messages. Some prominent public companies are Dell, eBay, HP, BASF, PepsiCo, and Royal Dutch Shell. Messages which have been posted inside StockTwits get syndicated to other news outlets like Yahoo and MSN.
StockTwits App Integrations
Let’s explore a few of the apps which have integrated with StockTwits.
Estimize is an open-source financial estimates platform with community members right from the funds and asset management firms to investors and corporate finance professionals.
LikeAssets is one solution that helps to become a better investor. It provides performance analysis that accounts for the investments.
TradingView provides the stock charts in which a community of investors can share trading ideas.
ChartIQ provides social, mobile-optimized stock charting, and technical analysis tools.
YCharts leverages financial and economic data to make better decisions.
Singly helps to integrate social and personal data. These can be used for authentication across services and categorize & organize data.
FinancialJuice is a financial news and content aggregator in which users can share articles.
Other applications include Q4 Web Systems, Mr.Reader, Stock Daddy Turbo, Zapier, and StockPulse.
What Are The Features To Consider While Developing The StockTwits Clone App?
The following are the features to be considered while developing a StockTwits Clone app.
The users can determine which stocks are being discussed mostly on each day. They can add the widget to the home screen so that they can be updated with the latest information.
Users can track the bullish and bearish sentiment in real-time on nearly every crypto, equity, index, or commodity.
The users can share commentary/ideas with charts, photos, and GIFs. Also, they can like, share, and reply to the ideas posted by the other investors. Apart from this, they can follow the other investors. So, the photos/charts posted by the other investors will be shown on the feed.
This feature enables the users to know when companies are reporting earnings.
The app displays featured and trending stories from the Financial Times, Wall Street Journal, and many more.
The users can track their portfolios by adding indices, stocks, ETFs, cryptocurrencies, and FX to their watchlists.
Like other social media apps, users can create their own room and join other rooms to discuss finance-related topics. Joining premium rooms offers the users access to exclusive concepts.
How To Monetize A Stock Market Chat App Like StockTwits?
Let’s get deeper into how to generate revenue from a stock market chat app like StockTwits.
StockTwits is a free app that can be installed without paying a single penny. This app provides a subscription plan and products purchase.
Users who have availed of the subscription plan have to pay a fee on a monthly or yearly basis. The payment will be charged from their Apple ID account upon the confirmation of the purchase. The subscription plan will be renewed automatically unless it is cancelled.
Users have to cancel the subscription plan at least 24 hours before the end of the current period. Notably, they cannot cancel the plan during the active subscription period, whereas they can only cancel the upcoming renewal charges before renewal.
Users have to pay US $7.99 for monthly access and US $84.99 for yearly access. However, this price is subject to change on some occasions.
You can set a certain percentage of the amount for charging the users a subscription fee. It is not necessary to charge the same penny which StockTwits is charging the users.
What Is The Cost Of Developing The Best-in-Class StockTwits Clone App?
Majorly, the StockTwits app clone development depends on numerous factors such as technology stock, app platform (Android, iOS, and Web), app developers’ skills/experience, time frame, feature-set, third-party service integration, and many more.
Reach Out To Us For StockTwits Clone App Development
Choosing a suitable technology partner plays a vital role. At UberLikeApp, we proffer the best-in-class StockTwits Clone app, which is crafted with robust functionality and an array of exciting features. Our StockTwits Clone Script is a customizable and scalable app solution that you can opt for if you want to get into the finance sector in a few weeks. Feel free to contact us and get your stock market chat app designed and developed.
A stock market chat app like StockTwits is a blessing for investors and traders as they can exchange their ideas by posting them. Also, this platform is known as a Twitter for traders. This is because it acts as a hub for sharing financial information in real time. The financial sector is booming and it is a promising year to get into this segment with the StockTwits Clone app.