TipRanks shows you what the best performing analysts say about your stocks. .
(photo credit: Courtesy)
When it comes to investing money, a lot of people find it difficult deciding what the best option for them is.
A few years ago, Israeli Uri Gruenbaum wanted to invest some money by reading an analyst's report that recommended to buy shares in a specific company. It wasn't long till he found out that he lost a lot of money in this investment.
Gruenbaum started to think "Why did I trust this analyst? How do I know his record and what can be done to improve this activity that is done by many people, who are not trained analysts?"
He partnered with Gilad Gat, a former senior cyber intelligence in the Israeli army to be co-founder and chief technology officer to build a platform that will virtually buy all stocks and shares.
The result was TipRanks, a Tel Aviv-based company with a website that checks more than 6,500 financial analysts and bloggers on the basis of their success rate of financial advice.
CEO and co-founder Gruenbaum said TipRanks scans every web page for leading financial websites.
"TipRanks developed its Financial Accountability Engine and sophisticated algorithms to scan and interpret relevant financial text from the entire internet. Basically it does the research for you," he said.
It allows you to see what the most successful experts are saying about the stock you are exploring. You can choose to follow the best analysts and get email alerts whenever they post their analysis.
The platform grades how well each analyst did and gives inexperienced buyers the notion whether to trust what's on offer and evaluate their choices.
TipRanks is the Yelp for analysts, and the small company is being chased by analysts who want to be on the top scores in the platform.
The platform is offered on a monthly subscription and is being used by ten thousands of peoples, in the US, especially by retired people who manage their own funds.
The company closed a $3 million round that was led by former New York governor Eliot Spitzer.
Zion Tech Grade 9.5 /10