Symphony is not trying to kill Bloomberg. Symphony is not trying to kill Bloomberg. Symphony is not trying to kill Bloomberg. Such has been the hypnotic chant, repeated over and over by Symphony CEO David Gurlé since major banks revealed they were investing in the firm one year ago this month. As the cloud-based messaging platformed announced Monday a successful fundraising effort that was double the targeted asset raise, that chant was repeated, as Gurlé pointed to a “democratic” technical platform that was “inclusive.” That might be true of the Symphony technical platform, but who controls access to “Bloomberg-like content” and…
On This Page
- Symphony capital raise doubles its target goal, said international expansion and creating a common business standard for communications is the goal as major banks climb aboard
- Gurlé not claiming to focus on taking a major bite out of Bloomberg and its nearly $9 billion in revenue, with 85 percent coming from the terminal, but Symphony not in a position to monetize the key chat access function
- Symphony will not be in control of who obtains access to elite Wall Street chat contacts or unique bank content
- Banks will control access to their individual symphony environment and choose who has access to "the club"
- Many have tried to compete against Bloomberg, all have failed, but none of the competitors had such elite bank backing
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
Comments are closed.