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StockTwits has proved that investors are interested in talking about stocks on Twitter — and the startup has now landed a high profile endorsement to its approach from the Nasdaq stock market. The exchange is turning to StockTwits for a new ad campaign. Its branding is being played up on StockTwits and real-time Nasdaq stock quotes will be added to users’ streams (Non StockTwits users on Twitter can also now get Nasdaq stock quotes by direct messaging @datajunkies).
The partnership is impressive, considering that the seven month-old site only has about 1,000 unique contributors a day. But, as founder Howard Lindzon writes on his blog, those users tend to be super active, posting a total of 8,000 daily tweets. And since they’re trading stocks, they’re obviously a group that Nasdaq wants to target — and who might be interested in other data that Nasdaq has to offer.
Lindzon tells us that the Nasdaq tie-up is the first major ad partnership for the seven-month old site, which also plans to make money via a premium offering. He says that more advertising is on the way — “mostly data and contextual.” StockTwits raised $800,000 in a first round in May and $800,000 in a seed round in December.