Business

TradingView chart platform receives $3 billion valuation after retail investing frenzy drives 400% growth

TradingView was founded in 2011 and caught on early to the intersecting trend of finance and social media. ...

New York stock exchange trader
  • TradingView is now valued at $3 billion after raising $298 million in a private offering.
  • The technical analysis charting platform has seen a 400% surge in membership over the past 18 months.
  • TradingView is popular with a new class of retail investors that have flooded the stock market since the start of the pandemic.
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TradingView has completed a $298 million private funding round valuing the social charting platform a $3 billion valuation.

The funding round caps off an 18-month surge in growth since millions of retail investors flooded the stock market amid the COVID-19 pandemic and drove massive moves in "meme stocks" like GameStop and AMC Entertainment.

New memberships have surged 400% since the start of the pandemic, while visitors to the platform more than tripled. TradingView said it now has paying customers in more than 180 countries, a testament to the global reach of its charts.

"It doesn't matter who you are, or where you're from, you'll always have access to the best tools and the best insights to find your right trading opportunities, then act on them," TradingView CEO Denis Globa said.

The online charting platform allows users to apply various technical analysis tools to thousands of securities and cryptocurrencies, and then enables them to "publish" their work to the public that can be upvoted by users who like the chart.

The funding round was led by new investor Tiger Global, which highlighted TradingView's potential for future growth thanks to the social sharing aspect of the charting company.

"TradingView's global reach, strong product offering, and engaged customer base positions the company to be the default social network and financial analysis platform used by all traders and investors," said Tiger Global partner Alex Cook.

TradingView was founded in 2011 and caught on early at the intersection of finance and social media, as younger investors now get much of their financial advice from social media platforms, according to one survey.

The charting platform operates a freemium model that users can upgrade to Pro, Pro+, and Premium versions, which unlock different features and cost $15, $30, and $60 per month, respectively.

Read the original article on Business Insider

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