Google Inc. plans to invest in a new round of funding for Symphony Communication Services LLC that values the new rival to Bloomberg at about $650 million, reports Sarah Krouse and Justin Baer of The Wall Street Journal.
Krouse and Baer write, “Symphony has said it would offer news and research on the platform in addition to its primary chat function. It agreed last month to provide news content from Dow Jones Newswires and The Wall Street Journal on the platform. Dow Jones is a unit of News Corp.
“It has also formed partnerships with S&P Capital IQ, a research provider owned by McGraw Hill Financial Inc., and Selerity, a firm that collects data from the Web.
“Symphony launched its service on Sept. 15. It charges a monthly fee of $15 per user for organizations with 50 users or more, according to its website, and is free for individuals. The company hasn’t disclosed how many users it has accumulated.”
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