Strands Expands Further With NetworthIQ Buy

Jason Harris, Thursday, May 15, 2008 at 4:00 AM PT Comments (6)

Strands, a social recommendation startup whose core product is focused on music, today made another move aimed at expanding into other areas with an agreement to buy NetworthIQ for an undisclosed amount. With the acquisition of NetworthIQ, Corvallis, Ore.-based Strands is looking to further build its moneyStrands personal finance application by giving users quality recommendations based on their entire financial portfolio. Competing personal finance startup Mint is similar in functionality, but only gives recommendations based on individual aspects of a user’s financial situation.

Todays news comes on the heels of Strands’ acquisition of Expensr, also a personal finance application. Over the last six months, funding for the four-year-old company has risen to some $55 million from investors including Spanish Bank BBVA, Grupo Zeta, Dabaeque and Sequal, so Strands appears to be using at least some of that money to try and replicate its success with music in personal finance.

6 comments so far

May 15th, 2008
8:13 AM PT

NetworthIQ Blog » Blog Archive » NetworthIQ joins Strands said:

[...] excited to announce that NetworthIQ has been acquired by Strands. Big news today (GigoOm, TechCrunch, The Oregonian) and we wanted to be sure to share all of the details here and be [...]

May 15th, 2008
1:56 PM PT

Ryan Williams said:

Thanks Jason, I’m thrilled to be a part of Strands now and am looking forward to seeing what we can do together.

May 15th, 2008
4:44 PM PT

mike riccio said:

“Strands appears to be using at least some of that money to try and replicate its success with music in personal finance.”

Success with music? Last time I checked, the MyStrands.com website got minimal traffic and they don’t have any strategic deals for their mobile music player.

May 15th, 2008
11:05 PM PT

Strands improves its net worth with NetworthIQ acquisition (Now it can be told) » Silicon Florist said:

[...] of outlets have already beat me to covering—The Oregonian, the Portland Business Journal, GigaOm… oh a little blog you may have heard of called TechCrunch, which had this to say: Just over [...]

GigaOM