Four days ago, a team of Wall Street veterans launched Track.com, a new marketplace for independent research providers. I met with the management team today. Ironically, they’re sharing offices with Tracked.com, another NY startup. John Frankel, the Founder, said that the people at Tracked like the domain name Track so much that they bought Tracked.com.
Track.com offers independent research providers a platform to distribute their intellectual property. Buyers pay subscriptions for access to the pool of content. Similar to Value Investors Club, the general public can get access to the content at no charge after a delay.
It looks like an institutional version of SeekingAlpha. It also has components of the market for research that AQ Research tried to launch some time ago. Eventually, I’m sure Track will build out internal discussion functionality similar to other collaborative investing startups.
I think their greatest obstacle is noise. There is a deluge of opinions available on the markets in every possible medium, and for every possible view on the market you will find someone passionately defending that view.
The most clever parts of their model are:
– the appeal to elitism, which has a proven appeal on Wall Street
– the recruiting of Wall Street alumni in transition, who want to keep their brand visible in the market. Given my background working with executives in transition, I particularly liked this aspect of the model.
– the tiered display of research over time, in order to price discriminate.
I look forward to following their progress. FYI, they’re actively hiring developers.