Price charting and social media platform TradingView has reached a valuation of $3 billion after a $298 million investment round led by Tiger Global, the company said in a press release on 14 October.
According to the announcement, the investment follows the platform’s incredible growth in its user base over the past 18 months — with it reportedly having a 400% increase in created accounts, and a 237% increase in visitors on the platform — most of which were retail investors. The co-founder and CEO of TradingView, Denis Globa, said the platform’s aim was to allow investors to be in “control of their own economic futures”, and that Tiger Global could help in achieving that goal. He said in a statement:
“We’re excited to be partnering with Tiger Global. Their global fintech expertise and insights will contribute significantly to furthering TradingView’s vision of informed financial trading and investing for the world.”
TradingView — which is used by over 30 million monthly users for price charts of assets such as cryptocurrency, stocks, and futures — will use the newly acquired funds to continue developing an environment where people can “Look first / Then leap” into the investment markets. The platform not only enables its customers, from over 180 countries worldwide, to chart the performance of their preferred assets, but also provides a social network where trades can be discussed.
The company also revealed it will be “doubling down” on its broker relationships, and is expecting to partner with “most major brokerage platforms” over the next few years. The goal is to allow its customers to trade directly from TradingView, while still using their preferred financial institutions. Alex Cook, partner at Tiger Global, said in a statement:
“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.”