Morningstar throws more money -- and loses one of its own -- at keeping its stake in a Bloomberg-lite venture intact
The bullish Chicago data company leads a fourth round of funding for YCharts and one of its managers left to help the start up
Elmer Rich
A reality-check is always good since tech is primarily fueled by hype and failure is the main outcome. The article seems useful for a hard-headed, non-industry POV – “Why Has “Social” Failed In Fintech?” The author points out the risks of challenging Bloomberg – “The joke in finance is that the Bloomberg terminal is the most expensive social network in the world at $2,500 a month. There’s truth to the joke. It’s been a winner-takes-all market. Reuters failed in the last decade to build an alternative network. And more recently in 2013, Markit partnered with every leading investment bank and competitor of Bloomberg and tried again. But it failed in less than a year.”
Link to full article – http://techcrunch.com/2015/06/08/why-has-social-failed-in-fintech/
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