TipRanks Expands Portfolio: Acquires Main Street Data

TipRanks, the Israeli market research aggregator, has acquired Main Street Data, a visual-first equity research platform, for an undisclosed sum to meet the dataset needs of its “enterprise clients” and also traders.

TipRanks’ Second Acquisition

This is the Israeli company's second acquisition, but the first since it was acquired by Prytek for $200 million last year. The only other company TipRanks acquired was The Fly, a financial news digital publisher specialising in real-time coverage of market-moving information, in 2023.

The latest acquisition of Main Street Data appears to be driven by the growing demand for market datasets among traders and, in turn, from the brokers who offer trading services to them.

"Over the last two years, we have seen strong demand from trading platforms for advanced research and tools to cater to their bigger clients,” said Uri Gruenbaum, CEO of TipRanks. “At the same time, there has also been increased demand for unique datasets for better AI applications.”

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Data-Driven Decision Making

Main Street Data offers KPI data on hundreds of publicly traded companies, enabling investors to make more informed decisions. The platform focuses on presenting the data in graphical form to improve its visual appeal for traders. Although the Main Street Data website received only 5K visits in February, according to SimilarWeb, almost 87 per cent of its web traffic comes from the United States, while the rest is from the United Kingdom.

TipRanks further highlighted that the datasets offered by Main Street Data will enable brokers to offer tools with KPI indicator insights to demanding clients. Furthermore, the datasets can also be connected with AI tools. The Israeli company also launched an AI-based stock analyst recently, which can even cover penny stocks.

“The acquisition of Main Street Data enables us to assist our enterprise clients with both needs,” Gruenbaum continued. “The unique company KPI data and charting abilities of Main Street Data further position TipRanks as the leading research platform for non-institutional investors. We continually strive to improve the user experience at TipRanks, and this acquisition is one more building block along that path."

Joe Kelley, Founder and CEO of Main Street Data, added: “With TipRanks, we’ll be able to offer quality data, real-time news, and a solid user experience to a global audience.”

Meanwhile, more and more brokers are integrating TipRanks’ services into their offerings. Recently, NAGA integrated TipRanks’ stock research platforms, following CMC Invest, which adopted the same solutions for its Australian users a few months earlier.