The New York-based social platform, which brings together traders of stocks, cryptocurrency and other emerging asset classes, has partnered with Times Bridge to expand its offerings to the Indian market. It competes with non-specialist social platforms such as Discord, Twitter, Telegram and Reddit.
Stocktwits’ India foray comes when cryptocurrencies are witnessing accelerated adoption among the country’s young retail investors from metros and non-metros alike.
“Stocktwits’ social-first philosophy will cater to this new generation of Indian consumers with not only retail-investor participation growing across the country, but also with people turning to one another–and social media–for making investing approachable and successful,” as per a company statement released on Friday. “As part of this partnership, Times Bridge will catalyse strategic partnerships, platform localization, and content for Stocktwits to drive adoption and impact across India.”
The platform company credits itself for pioneering and organising 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.
“Building on the growing dynamism of the investor landscape in India, we at Times Bridge–and across the Times Group–are looking forward to harnessing the power of our assets and know-how to support the localization, growth and impact of the Stocktwits platform across the length and breadth of India,” said Rishi Jaitly, the founding chief executive of Times Bridge.
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Times Bridge is a global investment arm of the Times Group that publishes this website.
Founded in 2008, Stocktwits has more than 6 million users from around the world, with over 1 million monthly active users. In 2021, Stocktwits witnessed 50% year-on-year growth, it said.
Rishi Khanna, CEO of Stocktwits, said, “We are looking forward to making a significant mark for ourselves in the Indian market where investors spanning many generations are ready for new and innovative platforms to learn, connect, educate and profit.”
