Market Prophit is the first service ever to provide rankings of financial bloggers in social media to generate unique, real-time sentiment signals (bullish/bearish) based on identifying the mavens or “Market Prophits” in the crowd, delivering a top-level view of what’s hot and what’s not.
In other words, it’s a financial big data analytics company delivering real-time, meaningful intelligence to investors through sophisticated natural language processing, predictive analytics, and powerful visualizations of sentiment and buzz derived from financial-related conversations in the social media sphere. So whether you are a self-directed retail investor, a day-trader, a hedge fund portfolio manager, a research analyst, or simply interested in getting the current crowd-sourced buzz on the market, Market Prophit does the number crunching for you. Read on for more insights from CEO Igor Gonta, who brings along a wealth of experience to the space, having spent 13 years working on the Street…
Tell us about the product or service.
Market Prophit is a financial Big Data analytics company that analyzes stock-related chatter in social media and generates real-time actionable intelligence and signals for both retail and institutional clients. We also quantitatively rank financial bloggers in social media based on the accuracy of their stock calls and track record of predictions.
How is it different?
We are different because of our unique and proprietary quantitative scoring algorithm for ranking financial bloggers. Our signals that focus on the best “mavens” in the crowd of opinion makers is significantly less noisy than other signals and allows users to more easily extract the quality of information from the noise. It also allows users to use our scores to be able to quickly identify those bloggers with the highest quality of opinions, significantly reducing the time of research and discovery for quality content.
What market are you attacking and how big is it?
We are attacking both the retail as well as institutional investment markets. We think that market could be $2-$4 B for this type of data and signals.
What is the business model?
Currently we are in free beta as we gather feedback from our customers on the products and services that we provide. Eventually, we will have a subscription-based model and also plan to license our data to third parties via an API.
What are the milestones that you plan to achieve within 6 months?
In 6 months, we plan on growing our customer base and then implementing our pricing structure to start generating revenue and scale our product.
Big Data is a hot sector right now – where do you see it going?
I see Big Data only getting bigger, but from two standpoints. Yes, the amount of data is going to continue to grow. But I think that what is also a theme that is accelerating is Big Data analytics, where innovation is starting to happen at such rapid pace that people are developing tools to help process, analyze, and make all of this data useful and helpful to users. I say we are at the point where there is escape velocity going on in terms of all of the analytical tools being built to harvest the power of Big Data and make it incredibly applicable in many different use cases, all the way down to the individual consumer.
Why are you launching in New York?
I am NYC based, love this city, and am at the heart of the finance and technology worlds here, which is very applicable to my company since we are a FinTech startup, so there is a natural eco-system for our company’s products and services as a starting point.