SYDNEY - 07/10/2019 (PRDistribution.com)
- Strawman wins investment from Black Nova Group to scale up it’s social investing platform in Australia in preparation for 13.9 million online traders across global markets.
- Andrew Page CEO and Founder of Strawman, and former stock market analyst at the iconic Motley Fool said “Investment has always been about trust. Unfortunately, we live in a world of fear, uncertainty and doubt. We created Strawman as a social platform for members to cut through the dust and help each other. We believe trust can’t be bought, instead it’s earned according to one’s merit”.
- Matthew Browne, Chief Investment Officer at Black Nova Group, and serial founder of iconic startups Donesafe and Whispli said “Strawman provides a unique angle on share market investing, a fresh perspective that really shines through the daily clutter of stock market news”.
- The Strawman index, a community led list of stock recommendations has returned a stunning 19% compared to the S&P ASX300 industrial average of 5-6%.
- The platform has experienced rapid growth from sheer word of mouth. It now has over 3000 active users, hitting a record of 50% user growth in the past quarter and expects to reach 50,000 in 2020.
Today, venture builder and investment fund Black Nova Group announced it’s backing of Strawman, a social investment platform. Strawman helps new and seasoned investors with independent, peer-reviewed, research, tips & recommendations from Australia's best private investors.
Matthew Browne, Chief Investment Officer at Black Nova Group, and serial founder of iconic startups Donesafe and Whispli said “Strawman provides a unique angle on share market investing. It seamlessly brings together a social dimension meshed in wth peer reviewed content and trusted reviews. It delivers people with a fresh perspective that really cuts through the daily clutter of stock market news”.
The mission at Strawman is to democratise investing. Strawman aims to socialise, mobilise and revolutionise the way people invest in the share market by being a hub for independent, accountable and actionable sharemarket research and recommendations.
Andrew Page CEO and founder of Strawman and former stock market analyst at the iconic Motley Fool said “Investment has always been about trust. Unfortunately, we live in a world of fear, uncertainty and doubt. We created Strawman as social platform for members to help each other. We believe trust can’t be bought, instead it’s earned according to one’s merit”.
On the Strawman platform you can find a plethora of unique stock market advice for emerging stocks, big movers and blue chips. Members create detailed company reports which are made available to the community for discussion, scrutiny and ranking. Members also make share recommendations and ‘straws’ that are tracked over time and held accountable, thereby influencing the member’s status rating.
“Essentially, Strawman’s members are incentivised to share their insights and experience with the community. If they’re on point, they can quickly attract a following, gain influence and earn a reputation. Their insights are held accountable by the platform’s accountability mechanisms and a system of peer review. The resulting opinion is very different from a team of analysts who have a narrower collective experience and tend to be constrained by the institutional imperative”.
Whereas other investment platforms give a “house review”, Strawman builds content from both the bulls and bears. This empowers members to understand both the upside and downside of any potential investment, and ultimately to make a more informed decision.
With voices from private investors, ex-fund managers and industry insiders, members compete to build their reputations and earn community status.
“Similar to how google ranks search results based on merit, we want to democratise and rank the voices of the global investment community”. Where each 'straw' gives the opportunity for a unique angle on stock market recommendations”.
Strawman is aiming for the 13.9 million online traders worldwide. It’s a high growth market seeing 4.3 million new online traders in the past year alone, with 58% of all online traders being millennials. “We see this as a great opportunity to create a millennial social platform that democratises investing, where few if none presently exist’, says David Theodorou, Chief Technology Partner at Black Nova Group.
Black Nova Group is a venture builder that helps companies dream, build and grow technology startups, giving them a launch pad to impact the world. To date our founding team have founded or invested in some of Australia’s most iconic startups, from Donesafe, Whispli, Ezi Debt Collection and Qore to name a few. With a core team of 22 we have expertise and weight in strategic advisory, software development, marketing and legal. Combined with our network of founders and investors, this has allowed us to help brilliant startups get off the ground, be heard and make their mark on the world.