tastytrade, a Chicago IL-based financial media company, has closed a $20m initial funding.
Investors remained undisclosed.
The company intends to use the capital to accelerate content distribution and membership growth (Membership cost $45/year for exclusive trading ideas).
Founded by CEO Tom Sosnoff and President Kristi Ross, tastytrade offers commercial-free original content supporting a revenue sharing model, which is based on brokerage and technology partnerships, and not on ad revenue.
The company’s Superstore, which is designed to provide members with special offers on financial products and services, is scheduled to launch in Summer, 2011.
According to written statement, tastytrade aims to rival major financial networks in the daily number of viewers by the end of its first year (it launched May 9, 2011).