Stocktwits, a social-media platform used by day traders and other retail investors, raised $30 million in a funding round led by Alameda Research Ventures.
Fueled by meme-stock mania, the company in 2021 saw its user base grow by 50% to 6 million, 1 million of whom are monthly active users, Chief Executive Officer Rishi Khanna said in an interview. Stocktwits is now valued at $210 million, a person with knowledge of the matter said.
The New York-based company, founded in 2008, credits itself for pioneering and organizing conversations around the “cashtag,” a combination of a dollar sign and a ticker symbol, such as $AMZN.
More recently, it rolled out a feature than enables users to integrate Stocktwits accounts with brokerages including Robinhood Markets Inc., Fidelity, TD Ameritrade and E*trade through fintech startup Plaid, Khanna said.