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A startup called Wikinvest has been trying to challenge established financial sites like Yahoo Finance by offering interactive, data-rich features. And it’s showing even more ambition today with a new tool that allows users to import and track their stock portfolios.
If you’re an active investor, the odds are you can already track your stocks by logging onto the websites of your various brokerages. But Wikinvest does for your investments what Mint.com does for bank accounts — it makes them easier to manage by showing you the data from all of those accounts in on place. Users can group their investments by market capitalization or industry, customize the data they see by designing their own dashboards, and view real returns that factor in things like interest and fees. The service currently supports 25 major brokerages.
Speaking of Mint, the Intuit-acquired site has its own tools for viewing stock investments. Wikinvest cofounder Michael Sha said the difference is that Mint was built for managing your personal finances, while Wikinvest was designed to deliver useful news and data about stocks. So unlike Mint, the Wikinvest tracker can deliver updates and news from more than 500 sources to help people make their investment decisions.
“We’ve developed a full-blown research platform,” he said. “As a result, we can actually provide a really interesting portfolio tracking experience.”
Wikinvest has raised $2.5 million in funding from DCM. iPhone and iPad versions of the stock tracker are scheduled for release in a few weeks.
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