The amount of the transaction was not disclosed.
Led by CEO Jeff Tompkins, SocialInSight helps online consumers leverage social media to improve investing performance. The company now plans to provide financial institutions with social business performance tools. According to Tompkins, the acquisition of SocialPicks will accelerate the adoption of its social investing tools by capitalizing on a trusted brand that is already familiar to online traders and investors”.
SocialInSight will begin immediate private testing of several new social investing apps with members of the SocialPicks online community and will re-launch the site this fall.
Established in 2007, SocialPicks received $500k in Series A funding from Bay Partners that same year. It was acquired by FinancialContent in 2009.