Financial internet media and technology company ShareInvestor said on Tuesday that it has acquired a 15 per cent stake in social network site, InvestingNote, for $150,000.
InvestingNote's founder Mr Shanison Lin and other individual shareholders own the remaining 85 per cent stake, said ShareInvestor, a subsidiary of Singapore Press Holdings (SPH).
InvestingNote incorporates innovative technologies to enable interaction amongst retail investors in Singapore and the region, ShareInvestor said in a statement.
Founded in 2014, the InvestingNote project is supported by the National Research Foundation of the Prime Minister's Office, under its i.JAM Reload micro-funding programme.
The project was administered by the Media Development Authority and is currently incubated by Singapore Infocomm Technology and NUS' Furnace.
Explaining how InvestingNote works, the statement said that retail investors currently access business and financial news, and personal finance tools from SPH platforms such as its financial daily, The Business Times, or via BTInvest and ShareInvestor.
"With InvestingNote and its focus on Singapore and US stocks, the site allows users to share market news and trading ideas, and upload these information on social media platforms such as Facebook and Twitter," it added.
ShareInvestor provides market data tools and financial applications to institutional and retail investors. It also manages one of the largest independent financial portals in Singapore, and a large investor relations network in Asia.
The company's client list includes more than 450 public listed companies in the region and its sites attract more than 150,000 unique visitors monthly.
Said ShareInvestor CEO Christopher Lee: "Our investment in InvestingNote will allow us to build and facilitate a social community of like-minded retail investors, thereby improving our investor outreach and reinforcing our existing investor education efforts."