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MarketBeat
Type of site
Financial Information
HeadquartersSioux Falls, South Dakota
OwnerMatthew Paulson
URLmarketbeat.com
Launched2011 (as Analyst Ratings Network)
Current statusOnline

MarketBeat is an American financial media company headquartered in Sioux Falls, South Dakota. The company runs an online platform with real-time financial data, market analysis, and news. It is the largest digital media company in the state.[1]

The company compiles data sources and tracks analyst ratings from equities analysts in the United States, United Kingdom, and Canada.[2] MarketBeat's website has information on analyst ratings, corporate buybacks, dividends, earnings, financials, insider trades, IPOs, SEC filings, and stock splits.[3][1]

MarketBeat touts its straightforward approach to delivering financial information claiming it "empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis".[4] Critics have argued that while the platform provides a substantial amount of data, the depth of analysis may fall short for more serious investors. In 2020, BuzzFeed reported that MarketBeat had compensated the McGorty junk news websites for signups through its affiliate program.[5]

History

[edit]

MarketBeat was founded by Matthew Paulson, a native of Mitchell, South Dakota.[6][7] It was incorporated in 2011 under the name Analyst Ratings Network.[1] The company's roots are traced to a personal finance blog called American Consumer News started by Paulson in 2006 in his college dorm at Dakota State University.[8][9] It rebranded to MarketBeat in 2015.[10]

The company has achieved rapid growth, with Paulson claiming a profit margin of up to 85%, fueling growth.[11] Services include newsletters, a daily analysis of stock market data, and premium research tools. The company offers a personalized dashboard allowing subscribers to track their investments' related data.[12] It includes access to stock ratings and calls from 300,000 analysts.[13] In 2019, the company claimed to have over one million subscribers to its email newsletters and over 5,000 members paying for premium access.[14]

In 2020, MarketBeat was included in the Inc. 5000 list of fastest-growing private companies in America.[15] It also opened a physical office in a shift after previously being focused on remote work.[16] The company again made the Inc. 5000 list in 2023 and its Midwest regionals, marking its 8th consecutive year on the Inc. 5000 list and fourth consecutive year on the Midwest list.[17][18]

References

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  1. ^ a b c Schwan, Jodi (June 24, 2021). "State's largest digital media company commits to office at Cherapa Place". SiouxFalls.Business. Retrieved November 21, 2023.
  2. ^ Katz, Eva (March 17, 2022). "This Founder Helps Investors Get Ahead of the Market, and His Game-Changing Software Is Netting Him $25 Million a Year - Bootstrappers.com". Bootstrappers.com. Retrieved November 21, 2023.
  3. ^ Schwan, Jodi (April 17, 2020). "Sioux Falls stock market site charts strong growth despite volatile market". SiouxFalls.Business. Retrieved November 21, 2023.
  4. ^ "About MarketBeat". MarketBeat. Retrieved November 21, 2023.
  5. ^ Silverman, Craig (April 2, 2020). "These Fake Local News Sites Have Confused People For Years. We Found Out Who Created Them". BuzzFeed News. Retrieved November 21, 2023.
  6. ^ "American Consumer News, LLC dba MarketBeat Entrepreneur Company Profile". Entrepreneur. Retrieved November 21, 2023.
  7. ^ "Paulson Center – Dakota State University". Dakota State University. Retrieved November 21, 2023.
  8. ^ "Scaling your company on the Silicon Prairie: The story of how MarketBeat reached 9 million in annual revenue without outside investment in Sioux Falls". Silicon Prairie News. May 9, 2019. Retrieved November 21, 2023.
  9. ^ "Across the Table with Matt Paulson". KELOLAND.com. KELO-TV. May 26, 2020. Retrieved November 21, 2023.
  10. ^ "How MarketBeat founder gets traffic to convert (20,000 times a month) – with Matthew Paulson". Business Podcast for Startups. Retrieved November 22, 2023.
  11. ^ "In The Moment ... Matt Paulson Joins The Potluck Society". South Dakota Public Broadcasting. October 10, 2017. Retrieved November 22, 2023.
  12. ^ Hogan, Mike. "Websites to Help Investors Survive Quarterly Earnings Season". Barron's. Retrieved November 22, 2023.
  13. ^ Hogan, Mike. "A Financial Website That Tracks Top Investors of Every Stripe". Barron's. Retrieved November 22, 2023.
  14. ^ Anderson, Patrick. "One million subscribers and counting: MarketBeat growth means more staff, more services". Argus Leader. Retrieved November 22, 2023.
  15. ^ Schwan, Jodi (August 12, 2020). "Ten S.D. companies named to Inc. 5000 list". SiouxFalls.Business. Retrieved November 22, 2023.
  16. ^ Mitchell, Trevor J. "After years of remote work, MarketBeat opens office space in downtown Sioux Falls". Argus Leader. Retrieved November 22, 2023.
  17. ^ Todd, Annie. "2 Sioux Falls businesses become the fastest-growing companies in SD, according to Inc". Argus Leader. Retrieved November 22, 2023.
  18. ^ "MarketBeat – Inc. Company Profile". Inc. Retrieved November 22, 2023.
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