TipRanks, founded by an investor who lost all his money due to bad advice, sold for $200 million.
The most profitable in the world “Instead of seeking advice from you, I would seek advice from artificial intelligence” We may be faced with a case of in 2012 Uri GruenbaumHe received a payment of 20 thousand dollars from the company he worked for at that time. Afterwards, he wanted to invest his money. He ended up losing his money because of the bad advice he received.
He later founded TipRanks, an artificial intelligence startup that analyzes and compares financial indicators and charts. Gruenbaumstarted to provide a monthly subscription service. Prytek, one of TipRanks’ largest investors, purchased 90 percent of the startup.
The aim is to democratize investing
Founder of PryTek Andrey Yashunskyin his statement regarding the issue “Nearly a decade ago we realized TipRanks’ potential to democratize investment information and knew we wanted to be part of their journey. ‘With our strong-performing financial services division, investment informationHaving a resource that is revolutionizing access to data and news will shape the future of our ever-expanding value chain.‘” he said.
TipRanksoffers an artificial intelligence tool that helps people who are not interested in the field make more accurate investments by collecting and evaluating open data. Applications such as Robin Hood and events such as the GameStop incident were important turning points for the opening up and democratization of investment markets to wider audiences, and investing was opened to wider audiences. PryTekagreed to pay $200 million for TipRanks.
Source :
https://techcrunch.com/2024/08/15/tipranks-an-ai-based-stock-tip-evaluator-created-after-its-founder-got-burned-by-bad-advice-sells-for-200m-to-prytek/
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