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.