Robinhood introduced the ‘freemium’ model into the investment app ecosystem, challenging incumbents such as E*TRADE, Fidelty, and TD Ameritrade. Now, fintech newcomer Atom Finance is bringing free professional research to investors, banking on a user-friendly experience and high-quality tools to lure users away from pricey, high-end terminal and software subscriptions.
Atom Finance is challenging Bloomberg — whose eponymous terminal continues to dominate trading floors — by trying to develop a simpler product offering the depth of information that an institutional product might offer, but without a price tag that would break the bank for retail investors.
"A lot of the tools and information we are offering are things that have historically not been available to a larger audience, both due to price point and also just due to the fact that you know something like the Bloomberg Terminal takes two to three months to learn how to use," Eric Shoykhet, Founder & CEO at Atom Finance told Cheddar in an interview Tuesday.
Since launching its web platform in June and the mobile app in December, Atom Finance has netted more than 100,000 signups, with “north of 60,000 downloads” for its mobile app. Shoykhet said the company is planning to balance its free offering, while also introducing a premium product to generate revenue.
"The game plan is, for our web product, we're going to have a more, kind of institutional-style offering that we'll start charging for probably later this year," Shoykhet said. "On the mobile app, we're really just focused on continuing to build a great product and just getting it out there."
Atom Finance has raised a $10.6 million Series A led by General Catalyst, bringing its total funding to $12.5 million.
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
