Social data provider Gnip has added another arrow to its already impressive quiver of web-services today with Estimize, an independent platform for accessing earnings data on publicly traded stocks.
Gnip already offers over 100 billion real-time social data actions each month from common social networks and services including Facebook, Twitter, Tumblr, Google+ and WordPress.
It’s attracted some massive clients as a result, including IBM and Adobe, as well a wealth of social media and data analytics firms such as Greenplum, Networked Insights and NetBase. These customers now deliver analytics to over 90 percent of the Fortune 500, proving the trust and influence Gnip’s service has on the market.
Gnip hopes that by adding Estimize to its API and existing roster of data sources, it can continue to expand into social finance. The service already supports StockTwits, a real-time social network aimed at investors and traders, but wants to broaden its offerings to attract additional clients.
“We’ve seen increasing demand for targeted sources that leverage both the aggregate wisdom of the crowd, as well as enable data mining to identify industry, company and market experts who make their opinions and news known solely through social media,” Seth McGuire, Director of Business Development at Gnip said.
“Estimize is a frequently requested financial data source, given that their estimates are easily incorporated into traditional models, and they frequently have the most accurate source for estimates.”
Estimize, founded in 2011, collects earnings estimates from over 2,500 investors including independent analysts and professionals from various hedge funds and institutions. Together, they contribute on over 900 publicly traded stocks with the belief that ‘buy side’ data is more accurate and unbiased than ‘sell-side’ analysts.
“Unlike comparable Wall Street estimate data sets which are comprised only of sell side analysts, the composition of the Estimize community covers a broad range of individuals with varying backgrounds and viewpoints,” the company says on its website.
“In order for Estimize to truly represent the expectations of the market as a whole, and find the needles in the haystack, this is necessary. We believe in providing a level meritocratic environment where the value you add is determined by how accurate you are, not the name on your door.”
Gnip has been quickly snapping up API access to a bunch of new social services recently. Stack Overflow, Panaramio, Plurk, Reddit, Instagram, and Bitly were added earlier this month, following a new partner program called “Plugged In To Gnip” for 13 high-profile clients.
Add in full historical access to Twitter and social data from Sina Weibo, and you can quickly get an idea of Gnip’s scope and ambitions.
Social data sells, and Gnip has access to an awful lot of it.
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