Bloomberg LP is on Second Measure Inc. acquire, a five-year startup company with a market data platform used by investors and tech giants to inform business decisions.
The deal was announced today. Second Dimension has raised over $ 25 million in funding from sponsors including Y Combinator, Goldman Sachs, Bessemer Venture Partners and others.
Second Measure operates a cloud-based platform that collects billions of credit card transactions made by millions of users. The platform will anonymize the transactions to protect users ’privacy, organize them and provide the final database through a web-based dashboard. Second Meas customers can scroll through the information to get an insight into the markets in which they operate.
Technical companies such as DoorDash Inc. using the startup platform to help them find business opportunities. By analyzing the Second Measure dataset, a company can identify segments where demand for its products is particularly strong to prioritize geographic expansion efforts. Credit card trading statistics also give us an insight into the types of purchases that customers make, from whom and related data points.
Another target market is Wall Street’s Second Measure. While the likes of DoorDash consult their data to better understand consumer activity, banks and investment firms use the startup platform to help them identify potential companies. make a good investment. Second Measure spending data can provide additional context about the business performance of major market players, regardless of whether they perform well compared to competitors and how sales change quarter-over-quarter.
The features of Second Measure for the investment community seemed to be the main motivation behind Bloomberg’s decision to make the purchase. Bloomberg provides a Bloomberg Terminal, which gives financial professionals access to market data, news and other information that they can use to inform investment decisions. Bloomberg said in today ‘s construction news that the consumer consumption metrics collected by the Second Dimension add to their “company fundamentals and market data. ”
“Our customers are increasingly incorporating non-traditional data into their investment and business strategy decisions,” said Shawn Edwards, Bloomberg’s Chief Technology Officer. “We are committed to helping them gain high-value insights from these databases more quickly, through innovative technologies and solemn models such as those developed by Second Dimension. ”
Financial terms of the construction were not disclosed.
Photo of Second Dimension founders Mike Babineau and Lillian Chou: The Second Dimension
Since you are here …
Show your support for our mission with the one-click subscription to our YouTube channel (below). The more subscribers we have, the more YouTube will recommend relevant content and emerging technology content to you. Thank you very much!
Support our mission: >>>>>> SUBSCRIBE NOW >>>>>> to our YouTube channel.
… We would also like to tell you about our mission and how you can help us achieve it. SiliconANGLE Media Inc.’s business model. based on the intrinsic value of the content, not advertising. Unlike many online publications, we do not have a payroll or run banner advertising, as we want to keep our journalism open, without the impact or need to follow traffic.News, commentary and commentary on SiliconANGLE – along with live, unwritten video from our Silicon Valley studio and global video teams at theCUBE – take a lot of hard work, time and money. Maintaining the high quality requires sponsorship support that is in line with our vision of ad-free journalism content.
If you would like commentary, video interviews and other ad-free content here, please take a moment to view a sample of the video content with the support of our sponsors, tweet your support, and keep coming back to SiliconANGLE.