SOURCE: tastytrade

tastytrade

July 06, 2011 07:55 ET

tastytrade Financial Network Secures $20M in Initial Funding

thinkorswim Creators Plan to Re-Define Financial Media Space

CHICAGO, IL--(Marketwire - Jul 6, 2011) - tastytrade, one of the fastest growing financial media companies, has closed $20M in initial funding, says Tom Sosnoff, tastytrade CEO. tastytrade offers commercial-free original content supporting a revenue sharing model that is based on brokerage and technology partnerships, not ad revenue.

"This is a $100B industry on its way to being much bigger and we plan on playing a major role in its growth," says tastytrade President Kristi Ross. "Securing $20M for a new startup is rare nowadays, but we have an experienced team that includes principals who created one of the most successful financial tech firms of the last decade. This capital commitment will accelerate content distribution and membership growth, which already exceeds initial projections by over 100%."

tastytrade is the next step for one of Chicago's most successful entrepreneurs, Tom Sosnoff, the original co-founder of thinkorswim. Kristi Ross, formerly CFO of thinkorswim, is joined at tastytrade by other thinkorswim founding members. thinkorswim, which pioneered many trading innovations, sold for $606 million in 2009.

Just like his prior ventures, Sosnoff plans to pit tastytrade against traditional financial media giants, this time with a daily live broadcast from 7 to 10am CT and rebroadcast throughout the day at tastytrade.com.

Says Sosnoff: "I believe that the public is underserved by the absence of tradable or actionable financial information. That's where tastytrade comes in. Our content is fun, engaging and as we say, edutainment at its finest. This funding also accelerates our delivery schedule to create the next generation of e-commerce for financial services."

tastytrade aims to rival major financial networks in the daily number of viewers by the end of its first year.

About tastytrade

tastytrade's mission is to bring actionable trading ideas and opportunities to the masses through entertaining, educational programming and discounts to trading and investing services. Membership cost $45/year for exclusive trading ideas. The tastytrade Superstore, offering members significant discounts to financial products and services, is scheduled to launch in Summer, 2011. tastytrade, launched May 9, 2011, was founded by a core group that built thinkorswim into the award-winning online brokerage.

tastytrade highlights and news: http://info.tastytrade.com
The whole cherry: http://tastytrade.com
Twitter: @tastytrade

Contact Information

  • Contact:
    Frances Del Valle
    Influence Consulting Group
    Email Contact
    212-717-5499

    Mark Rose
    Influence Consulting Group
    Email Contact
    360-301-2600