Covestor, a leading investment expert community site, announced yesterday that they have begun a program where Covestor members can write articles to appear on TheStreet.com site. These articles, after passing through an editorial filter, will appear in The Street Picks section on the large financial media site.
In addition to expert content cross-posted to TheStreet’s site, Covestor has also begun bubbling up TheStreet’s content onto their own research and trading platform.
This is an interesting deal for a variety of reasons:
- Added reach for Covestor and its experts: Covestor is a community of experts which requires numerous, though not huge numbers, of people to participate by picking stocks and developing a track record on the platform. Once the community is populated, the model requires lots of other to spectate on top of the activity occurring withing Covestor and a proportion of these spectators to perform revenue-producing activity, which will probably come in the form of subscription rates or investment management fees.
By cross-posting Covestor content onto large sites like TheStreet.com, Covestor now reaches millions of potential users of their service by showcasing their expertise, activity, and performance of their members.
- TheStreet.com inches closer to emulating an aggregator model: Like Yahoo Finance or SeekingAlpha, aggregators bring in big traffic by pulling together disparate information and content from various and varied sources. TheStreet has always built its service offering around big names like Jim Cramer. By opening up to an editorialized blog offering, like the one that will essentially emerge from Covestor, TheStreet.com will now immediately add a lot of different voices and content to their site, essentially making a step towards displaying the long tail of financial content.
