The Markets
2022 caught the entire industry by surprise. Bearish markets, a crypto winter, supply chain problems and the end of pandemic economics made many retail investors delete their investing apps, with significant losses to multiple companies.
This created a new challenge for the rapidly growing market of online brokers – a significant drop in trading volumes and user engagement. The unit economics had changed, and brokers had to reduce marketing activities, as the LTV of retail investors no longer justified them.
The Surprise
We expected things at TipRanks to be no different. So you can imagine how surprised we were to experience the strongest growth in our history. Before we knew it, we had to open more and more servers to support the growing demand, and we hired many account managers to help onboard new partners in regions such as the UK, Italy, Spain, China and Japan.
One of our biggest partners wrote us to say that the TipRanks Tools have been a ray of light for them, attracting millions of monthly users looking to invest with confidence. Our tools provide not only interactive research, but more importantly, a transparent, data-driven solution. We measure and rank thousands of professional analysts, and offer exciting tools like our award-winning Smart Score, News Sentiment center and others.
During Q1, we started receiving multiple inquiries from existing partners asking for more of our research tools (as the popularity of our Analyst Solutions and Smart Score were generating most of the action for them). While we were beginning to recognize the unique value we were providing to our partners during this challenging time, a new wave of hedge funds and online brokers started reaching out for help.
We ended up integrating our interactive research into the platforms of 25 global brokers. And not just any online brokers – these are some of the biggest banks and industry leaders, who perform serious due diligence before making such an important decision – names including DBS, Ally Financial, XP, FXCM, Admirals and more.
Thank You!
Our team could not be more proud or grateful about our mission to make the investment world a better and safer place. We plan to soon update all our enterprise clients (including many hedge funds and research platforms) about many exciting new features. So please stay tuned; we promise to continue disrupting through 2023, and want you to be there with us.
