StockTwits, a service that indexes stock and financial related messages from Twitter has raised $800,000 in a round led by IA Capital Partners that also included Betaworks, Fox Business pundit Eric Bolling, Wallstrip founder Howard Lindzon, World Series champ pitcher Todd Stottlemyre, and Marketwatch cofounder Bill Bishop.
The service is billed as a real time communications tool for seeing what people are saying about stocks, based on stock symbols.
It's not a bad idea, but it's an interesting investment given the current economic climate. We also dare not say we don't like it because Howard Lindzon viciously attacks anyone who doesn't all but suck his you know what in anything he invests in, and trust me from experience, you can praise a company or product he's invested in, but if you don't make it all about him, all hell breaks lose. Having said that: it is just a twitter mashup, although a deal to syndicate filtered data to Bloomberg would mean that unlike Twitter itself, this idea at least has a business plan.
Ultimately, this sort of data is good data when making investment decisions, so it will appeal to investors, at least those with enough money left to invest in the market.
(via Alley Insider)