A looming competitor to Bloomberg and Reuters

Valerie Young of TheStreet.com writes about Money.net, a new, and cheaper, competitor for data and news to Bloomberg and Reuters.

Young writes, “‘We don’t want to have the same content as Thomson Reuters or Bloomberg,’ Downey said. ‘We want to build, and are building, a better product.’

“The New York-based company declined to release sales figures, but said it’s targeting a customer base of 500,000 or more including advisers, wealth management firms and hedge funds.

“Money.Net offers users a customizable desktop with drag-and-drop modules, sharing capability for screens, views and tabs, and a ‘TV Clipster’ that allows monitoring of nearly 1,000 financial stations in real-time. A chat function is powered by Symphony, a company backed by large banks including Goldman Sachs and JPMorgan Chase that provides secure messaging services.

“Institutional broker Nicolas Katsiyianis said he has found Money.Net useful, but he still wants real-time price quotes for stocks outside the U.S. and more sources for news.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.