Comments on: SkyGrid raises $11M to gather news for investors

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By: IndustryInsider

IndustryInsider — Mon, 06 Oct 2008 19:19:46 +0000

Scott,

This space is full of fringe players and pure play firms. Check out Collective Intellect, InfoNgen and FirstRain (who just made an announcement that it signed up it's 100th paying client in addition to a distribution deal with CapitalIQ).

The reality is that sentiment analysis technology is in it's infant stages right now and is not a reliable signal for traders whatsoever. The problem that Monitor110, like SkyGrid, had is that they marketed that they had the "holy grail" and could find signals on the web. Impossible. You can find raw intelligence or analyze trends from disparate content sources, but you cannot reliably be able to find trade signals.

By: scottshapiro

scottshapiro — Tue, 30 Sep 2008 04:16:01 +0000

What are some of the “and more…” that are doing something in this space?

By: Commenter

Commenter — Sun, 17 Aug 2008 08:23:14 +0000

good pt ffo…if im investor i dont want just a all purpose news engine or conversation tracker, i want good and fast way to filter stuff for my stocks. from anthony's post this sound pretty neat.

By: Babuji

Babuji — Fri, 15 Aug 2008 04:08:37 +0000

There are a lot of players in this space. Reuters has a News Sentiment Engine (which I've seen – it's pretty good), also
MarketPsy
RavenPack
Psydex
Jordange
InfoNIC (underlies Reuters' NSE)
and more…

By: ffo

ffo — Sun, 10 Aug 2008 08:00:47 +0000

do u think those traders have time to do Google News searches?
Google finance is even worse than Yahoo!

By: MartinEdic

MartinEdic — Fri, 08 Aug 2008 00:17:40 +0000

The notion that they are accurately measuring sentiment is a very suspicious one. I know because we include sentiment analysis in our social media monitoring application (SM2) and I always tell people it is only an indicator and not a very accurate one. Computers are simply not very good at semantics and things like irony. The only way their results can be called accurate is if humans read and analyze them and that simply doesn't scale nor is it fast enough for market situations.
I'd suggest that the hedge funds look at a more rigorous solution designed for tracking any kinds of conversations in social media- and I'm not talking about Google Alerts. They only track information sites, not conversation sources. Our model is designed for brand and reputation managers but works in quite interesting ways when you use it for financial information. Stuff regularly appears in social media far before traditional media…

By: Anthony Ha

Anthony Ha — Thu, 07 Aug 2008 21:52:06 +0000

Thanks for that. I'm not that familiar with either company myself, especially Monitor110, so the perspective is much appreciated.

By: brycebaril

brycebaril — Thu, 07 Aug 2008 21:08:36 +0000

My understanding is that Monitor110 was looking more into the web at-large to find opinions and sentiments of entities, as in 'people seem to like the iPhone' or 'people like the new iPhone less than the old iPhone' whereas SkyGrid takes news feeds and assigns sentiment scores to them. Thus, so far as I can tell, the biggest difference is the source material.

By: StartupNewz.com

StartupNewz.com — Thu, 07 Aug 2008 16:07:24 +0000

Skygrid rakes in $11 Million investment…

New aggregation for investors? What’s so cool about it that the startup Skygrid is raising a cool $11 Million in funding. All it will do is to aggregate news and feeds for investors. Wait, aren’t there too many of them already and what is it they …

By: Investors » ANALYSIS-GE investors see post-Olympics NBC sale unlikely

Investors » ANALYSIS-GE investors see post-Olympics NBC sale unlikely — Thu, 07 Aug 2008 12:10:17 +0000

[...] SkyGrid raises $11M to gather news for investorsOn its surface, the concept sounds a bit silly — can’t investors do Google News searches on their own? Or use a free news index like Bloomberg’s? Do they really need to pay another company to do it? In fact, a startup with a similar … [...]

By: kristophe

kristophe — Thu, 07 Aug 2008 11:56:35 +0000

Congratulations for the funding! But in what point exactly is Skygrid differing from Monitor 110? Only on sentiment analysis and that there are more articles displayed per page? What kind of sources are they indexing? What is there delay in finding the most relevant article?

Regards
Kristophe

By: Anthony Kuhn

Anthony Kuhn — Thu, 07 Aug 2008 09:46:43 +0000

BloombergNews seems to have made a fortune off of focusing on information for investors. Who's to say SkyGrid won't be able to make it big by selling article ratings/reviews to those who value time more than money (especially when it's other people's money!)

By: scottshapiro

scottshapiro — Thu, 07 Aug 2008 08:16:54 +0000

Hedge funds eat this stuff up. There just probably isn't the same appetite as there was during the heyday a few years ago. I remember reading an article about hedge funds moving offices closer and closer to the bloomberg headquarters to minimize latency. Apparently, a few miliseconds can make or break algorithmic trades based on news feed data. It doesn't sound like this is as algorithmic, but whatever gives them a slight advantage is worth it.