London-based foreign exchange affiliate Investoo Group has purchased social trading comparison site SocialTradingGuru.com in a deal that the company said includes all existing revenue share accounts.
Terms of the agreement were not disclosed, but Investoo said in a statement that the purchase will extend its reach into the social and copy trading space, whilst generates a strong boost to its revenues and user base.
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SocialTradingGuru.com launched in 2012 and is regarded as one of the world’s biggest social trading comparison sites. It works with a number of partners, including eToro, Ayondo and Tradeo.
The acquisition is also important as it helps augment Investoo’s portfolio of websites, in tandem with its own capabilities, including its educational platform Investoo.com, forex signals service SnipetheTrade.com, forex broker comparison site 100ForexBrokers.com and YouTube channel TradingAxis.com.
According to Adam Grunwerg, CEO of Investoo Group: “Social and copy trading represents an excellent market for us to expand our products and services into. It is also a strong platform to build our own SEO and revenue share business. We plan to capitalize on the acquisition of SocialTradingGuru.com by launching in a number of new languages and on a new design.”
David Merry, chairman of the Investoo Group board, added: “We are actively looking for new partnerships and website acquisitions that can add value to our portfolio of websites. We have grown more than 10-fold since the beginning of the year and look forward to working with new partners.”