What’s behind Bloomberg’s chat strategy
Mark Melin of Valuewalk writes about Bloomberg’s chat strategy on its terminal.
Melin writes, “Financial technology and media company Bloomberg is extending its terminal chat capabilities amid what is being characterized as a fight with Silicon Valley rival Symphony. But the new chat service might not [be] an unbundling as much as it serves the purpose to make Bloomberg technology a more integral component of Terminal user lives.
“The chat service is not available to the general public, just to firms that have Terminal subscriptions, a Bloomberg source told ValueWalk. The Enterprise IB initiative is an extension of a program the firm first launched in 2013.
“The move comes as the challenge from Symphony, characterized as a ‘Bloomberg killer,’ is reported to have ramped up 235,000 paid subscribers. Other analysts, however, downplay the potential for Symphony to compete against the core of the Terminal’s technical reach.”
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