Chicago-based Company Welcomes Follow-on Investment from TCV to Fuel Additional, Non-Traditional Financial Offerings, Complimentary to Its Core Business
Chicago, IL - June 28, 2018 – tastytrade, Inc., the award-winning, innovative financial media company and parent to financial subsidiaries, announced today $20 million in new funding from TCV. The funding will be used to continue to challenge the traditional financial models and products currently offered to retail, self-directed investors.
The funding follows the company’s 2017 expansion of launching tastyworks, a high-speed technology brokerage firm with low fees and capped commissions. In 2018, the team created an investment advisory initiative called Quiet Foundation based on data-driven research, which provides unique risk analysis of any investment portfolio held at any firm. tastytrade continues to level the playing field by formulating new trading vehicles appropriately sized for retail investors.
“tastytrade remains focused on fighting for and empowering the everyday investor, providing free and engaging video content that empowers investors with actionable information they can apply every day,” said Kristi Ross, co-CEO and President of tastytrade, Inc. “Research-based content, trading technology, and the tastyworks’ brokerage are just the base for what we’re building. The overall tastytrade vision encompasses an offering that goes much deeper than most large institutions are willing to go.”
Tom Sosnoff, co-CEO and Chairman of tastytrade, Inc. added, “If you’re going to change the world, it starts with changing the way people think about strategic active investing. TCV has been a long-term supporter of our vision and our mission, initially with thinkorswim in May 2004, and now with their continued investment in tastytrade.”
TCV is a leading, Silicon Valley-based provider of growth capital to private and public technology companies, that has deployed over $1.5 billion in the fintech sector. “TCV’s mission is to invest in exceptional management teams who are reshaping industries and are innovators willing to disrupt even their own business models,” said Jake Reynolds, general partner at TCV. “We’re supporting a team that we believe has and can continue to transform the way self-directed investors interact with trading technology, financial media and new products.”
About tastytrade, Inc.
tastytrade is one of the most-watched online financial networks, engaging investors and traders across 165 countries with 8 hours of daily, live, cost-free and commercial free programming with almost 100 million hours viewed. tastytrade offers over 50 original segments for new and seasoned veteran traders. tastytrade’s research-based content teaches a logical, mechanical approach to investing and identifying opportunities based on probability and volatility. Investors are continually challenged with financial math, humor and new market perspectives. tastytrade is also the parent company to tastyworks, a brokerage firm creating and leading a financial revolution for the do-it-yourself investor and to Quiet Foundation, a data science-driven, fee-free investment advisory service. tastytrade and its companies focus on empowering the individual investor through content, technology and know-how.
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has invested over $10 billion in leading technology companies and has helped guide CEOs through more than 115 IPOs and strategic acquisitions. TCV’s investments include Airbnb, Avalara, AxiomSL, Dollar Shave Club, Envestnet, EtQ, ExactTarget, Expedia, FinancialForce, GoDaddy, HomeAway, LinkedIn, MarketAxess, Netflix, OSIsoft, Payoneer, RiskMetrics, Sitecore, Spotify, thinkorswim, Webroot, Xero, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.